It's Official: The Stress Tests Were A Joke

Chicken

Alright, it’s official. The stress tests were a joke.

Consider:

  • The adverse economic scenario was for a small decline.
  • The total capital needs of ALL the failed banks was just 3.5 billion eur.
  • Only 7 banks failed, and the two big ones are already nationalized.
  • Only one Greek bank failed.

Verdict: joke.

See the full coverage here.

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