EU tells states to prepare for banks that fail stress tests

European finance ministers have defended stress tests currently being carried out on 91 of the region's banks, amid EU calls for governments to be ready with aid when the results are published on 23 July.

With some analysts predicting that between 10-20 banks could require millions of euros in recapitalisations, EU economy commissioner Olli Rehn said on Monday evening (12 July) that national capitals must "prepare for any possible pockets of vulnerability" by getting their "backstops" ...