Spain stress test shows shortfall of €59 billion

The country's banking stress tests, which have caused shares across Europe to fall today, have shown a shortfall of €59.3 billion.

28th September, 2012
Spain: €59 billion shortfall

The country's banking stress tests, which have caused shares across Europe to fall today, have shown a shortfall of €59.3 billion.

Earlier, the Minister for Finance, Michael Noonan, had said that the results of the tests “seem to be below the more pessimistic estimates.”

Spain’s test on 14 banking groups is a precursor to the formation of a so-called bad bank to which troubled lenders will transfer soured real estate to bolster their...

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