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EU leaders agree to publish bank stress test results

email this aricle - EU leaders agree to publish bank stress test results - 18 June 2010 print this article - EU leaders agree to publish bank stress test results - 18 June 2010
The results of stress tests on banks in Europe are to be published, European Union leaders have agreed.

Jose Manuel Barroso, president of the EU Commission, explained that the results would be made public on a "bank by bank basis" in an attempt to reassure investors.

European Council chief Herman Van Rompuy explained that the results will be published by the latter half of next month "at the latest".

He added that EU leaders will also push the idea of a financial transaction tax at next week's G20 summit, reports BBC News.

Last week, Deutsche Bank chief executive officer Josef Ackermann stated his belief that publishing stress test results could be damaging unless "backstop facilities" are put into place.

While stressing that he was not opposed to the idea in principle, Mr Ackermann said market instability could be increased if publication was not carried out carefully, reported Bloomberg.

By Tony Aynsley

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