European Banks Fail Stress Test

European Banks Fail Stress Test

The European Banking Authority (EBA) has announced that 24 European banks failed stress tests to check if the banks could withstand another financial crisis. The review was based on the banks financial health at the end of 2013.

The failed banks now have nine months to fix the problems and increase finances or face being shutdown, luckily no UK banks were included in the failed list.

10 of the banks are already taking action to strengthen themselves. The remaining 14 include 4 Italian banks, 2 Greek banks, 2 Slovenian banks and 2 Belgian banks.

The stress test included 123 banking groups across Europe to ensure that all would survive if markets were to go through another financial crisis.