Seven European Banks Get Their Name In Bright Lights

Publish date:

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]


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.