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Monte Paschi in Siena, Italy - the world's oldest bank - fell foul of the tests (Photo: Michelle Lee)

One in five EU banks fail stress tests

One in five EU banks do not have enough capital to cope if another financial crisis hits the bloc, after failing 'stress tests' set by the European Central Bank (ECB).

The bank released the results of its so-called 'stress tests' on Sunday (26 October), indicating that 25 banks had capital shortfalls of €25 billion.

One hundred and thirty of the bloc's biggest lenders, accounting for 82 percent of the EU's total banking assets, were assessed by the ECB over the course of 2014, to...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Monte Paschi in Siena, Italy - the world's oldest bank - fell foul of the tests (Photo: Michelle Lee)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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