Eight banks fail EU stress test with 16 in danger zone (BBC)

[eppur_se_muova]

Eight out of 90 European banks have failed stress tests designed to ensure they can withstand another financial crisis.

The European Banking Authority (EBA), which carried out the healthcheck, said another 16 banks were in the danger zone.

The EBA called on national financial regulators to ensure that capital shortfalls would be quickly resolved.

Five Spanish banks failed, as well as one in Austria and two in Greece.

In Austria, the Oestereichische Volksbank failed the test, while in Greece two state-controlled banks - ATEbank and EFG Eurobank - fell at the hurdle.
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more: http://www.bbc.co.uk/news/business-14169940

[pscot]

1. What's the significance of the Austrian bank's

failure to pass. Does Austria have an economy? I thought their only trade good was economists.

[Po_d Mainiac]

2. wow

And the only criterium for solvency (passing the test) was having enough reserves to cash 3 $100Eu checks every day for a week, if it rained