16/07/2011 12:40
Eight banks fail EU stress test
Eight out of 90 European banks have failed stress tests designed to ensure they can withstand another financial crisis.
The European Banking Authority (EBA), which carried out the healthcheck, said another 16 banks were in the danger zone.
Five Spanish banks failed, as well as one in Austria and two in Greece.
On Wednesday, Germany's Helaba pulled out of the stress tests, effectively making it the ninth bank to fail.
The failed banks would have to find an estimated 2.5bn euros in new funding by the end of the year, BBC reported.