Tag: stress tests

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

The UN’s nuclear chief has called for random safety tests of all the world's reactors within 18 months, to help prevent any repeat of Japan's atomic crisis three months ago.

Banks are not out of trouble simply because they pass stress tests, Mervyn King, vice-chair of the joint EU financial watchdog warned yesterday evening (2 May), as some hundred financial institutions are currently being examined for their resilience in harsher economic winds.

The European commissioner in charge of climate action, Connie Hedegaard, has signalled that EU decisions on commissioning new energy capacity are "very much likely to be influenced" by the Fukushima nuclear disaster in Japan.

The European Union will make health checks of banks a regular event and the results will be published in full, the bloc's presidency said yesterday (30 September).

European Banking Federation President Alessandro Profumo yesterday (12 July) offered to set up a voluntary €20 billion rescue fund for failing banks funded by the top 20 EU credit institutions. Although the move follows Brussels' push in this direction, the European Commission reacted warily to his announcement.

How Europe's banks will raise more capital and how their governments will help plug large holes in banks' books will be the main focus of ministerial talks in Brussels this week.