Posted on 10/23/2014 4:29:52 AM PDT by Olog-hai
Europe’s biggest banks are facing a day of judgment as the European Central Bank prepares to unveil the results of a yearlong search through the dark corners of their finances.
It’s a step that comes none too soon for the struggling economy of the 18-country eurozone.
The ECB review to be unveiled Sunday seeks to identify banks that are too weak to lend to businesses or make it through another recession and force them to strengthen their finances. It includes a detailed look at 130 banks’ loans, holdings and investments, as well as a so-called stress test that simulates how banks would fare in a deep economic downturn.
Those that fall short in the tests will have to raise more money—and could have to restructure or be sold to stronger partners. …
(Excerpt) Read more at hosted.ap.org ...
Without reading the article I am going to guess this is a way to cripple small and mid sized banks so the large banksters can buy them up on the cheap. Now lets go see if I am right.
Banks should be broken up, not consolidated into fewer banks.
> The ECB review to be unveiled Sunday seeks to identify banks that are too weak to lend to businesses or make it through another recession and force them to strengthen their finances. It includes a detailed look at 130 banks’ loans, holdings and investments, as well as a so-called stress test that simulates how banks would fare in a deep economic downturn. Those that fall short in the tests will have to raise more money...
I suggest bitcoin. /s
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