Seven European Banks Get Their Name In Bright Lights

Author:
Publish date:
Updated on

Anyone can pass the so called stressful test (and 84 banks did) but you know what takes real skill and should be publicly applauded? Failing what's currently being described as a nice little spa getaway upstate.

"I see nothing stressful about this test. It's like sending the banks away for a weekend of R&R," said Stephen Pope, chief global equity strategist at Cantor.

The winners hail from Germany (Hypo Real Estate), Greece (ATE Bank) and Spain, which took home home a whopping five medals (Unnim, Diada, Espiga, Banca Civica, and Cajasur). Congrats to all.

Bank Of Spain: 4 Cajas Groups Need EUR1.835 Bln From FROB [WSJ]
Seven Banks Fail Europe's Stress Test [Reuters]

Related

Getting Into Bed With One Spanish Bank Now A Risk-Free Proposition

Spain, as you may have heard, does not have a lot going for it at the moment. Its bond yields have crossed 7 percent, unemployment is at something like 70 percent, and on Monday, it announced a rather poorly received bailout of the country's banks. Investors don't want to touch their financial institutions with a 100 foot pole. One bank that knew this rejection all too well? Banco Santander, probably on account of the open sores. Today, though, that's all about to change.