Report predicts 10 banks will fail EU stress test
A survey by Goldman Sachs is today forecasting that 10 of the 91 European banks examined will fail their stress tests.
Results of the tests, which aim to determine whether the banks have sufficient capital to survive another economic crisis, will be revealed after trading today.
Meanwhile Spanish newspaper El Pais says several banks there will not make the grade.
Bank of Ireland and Allied Irish Bank, the only two Irish financial institutions subjected to the tests, are expected to pass.
One of the criteria for judging the banks is how they would cope if recovery stops and there is another severe downturn.
