Five Spanish banks have failed the European Union bank stress tests, including Caixa Catalunya, making up the bulk of the eight failures in the bloc, the Bank of Spain said on July 15, 2011. But the five will not need additional capital because the sector is already being restructured, the governor of the Bank of Spain, Miguel Angel Fernandez Ordonez, told a news conference. Read more here.
What do you think will be the consequences of the failed stress tests for the European economy?
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