Economic

Up to 15 EU banks to fail stress test

“Up to one in six European banks is set to fail an EU-wide financial health check, according to euro zone sources close to the stress-testing, as officials scramble to set up backstops for those at risk.

The result, which the European Central Bank and others hope will persuade investors the European Union was finally coming clean about the extent of banks’ problems, will pressure reluctant states to prop up lenders that cannot raise money.

Source: Exclusive: Up to 15 EU banks to fail stress test | Reuters

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