The results of the so-called stress tests designed to identify European banks in need of recapitalization will be released later today. The expectation is that up to fifteen financial institutions will be identified as under-funded and in jeopardy.
The International Monetary Fund has warned Europe it is taking too long to rebuild its banking system and has lagged the repair work done in the United States since the financial crisis, while the threat of the Greek debt crisis spreading to bigger countries such as Spain and Italy has rattled investors and dragged European bank shares to a two-year low.
Source: Reuters
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