European Banking Authority finds 25bn black hole in finances with nine banks in Italy failing the testsEuropean banking regulators warned on Sunday that 24 banks in the European Union had a 25bn (£19.6bn) capital hole after being tested over their financial strength.The outcome puts the focus on Italian banks, nine of which were found to have a total shortfall of 9.4bn, the largest of which was at Banca Monte del Pashi di Siena. In Greece, three banks failed the stress tests and another three in Cyprus. Continue reading...
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