BRUSSELS (MNI) — The European Commission wants full transparency
on a fresh round of EU bank stress tests, European Commissioner for
Economic and Monetary Affairs, Olli Rehn, said on Tuesday, stopping
short of promising that a new round of tests would be released to the
public.
Rehn said the EU authorities would start a new round of bank stress
tests in February and that the methodology was still being finalized.
We have “continued to beef up our systemic response to the systemic
crisis,” he said.
He said the policymakers had learnt from the previous round of
stress tests, the results of which were released last July, saying a
“liquidity assessment needs to be included in the future.”
He said he backed the results from the July tests because the
economic situation that they had tested for was much worse than the one
currently playing out in the EU.
“There is a certain dualism, even contradiction” between what’s
going on in the real economy and the markets, Rehn said.
Rehn was speaking after a meeting of EU finance ministers at which
an E85 billion financial assistance deal for Ireland was given formal
approval.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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