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Bloomberg just reported that according to some leaked documents 25 European banks are to fail the stress test.
On Oct 22nd the Spanish news agency EFE reported that as many as 8 banks from Austria, Greece, Cyprus, Portugal and Belgium will fail the test, but these reports were quickly denied by ECB officials. The European Banking Authority(EBA) which administers the stress tests also stated that conclusions are not final yet, and still pending, all the way till the endorsement date of Sunday 26th Oct 2014.
The new story that just hit the wires predicts the number of the banks that will fail at staggering 25!
More rumors or facts? What's your opinions? And what do you think the impact on shared currency will be?
I personally suspect that we might see a few currency pairs opening with big gaps next week. On the flip side, if the stress results are positive we'll see European banks' stocks go up and perhaps fireworks in Euro crosses.
On Oct 22nd the Spanish news agency EFE reported that as many as 8 banks from Austria, Greece, Cyprus, Portugal and Belgium will fail the test, but these reports were quickly denied by ECB officials. The European Banking Authority(EBA) which administers the stress tests also stated that conclusions are not final yet, and still pending, all the way till the endorsement date of Sunday 26th Oct 2014.
The new story that just hit the wires predicts the number of the banks that will fail at staggering 25!
More rumors or facts? What's your opinions? And what do you think the impact on shared currency will be?
I personally suspect that we might see a few currency pairs opening with big gaps next week. On the flip side, if the stress results are positive we'll see European banks' stocks go up and perhaps fireworks in Euro crosses.