French bank stress tests raise no special concerns: ministry

17th June 2010, Comments 0 comments

Stress tests to gauge French banks' resistance to exceptional financial strains show "no particular cause for concern", a source close to Economy Minister Christine Lagarde said on Thursday.

Germany will publish the results of stress tests on its own banks, a government source in Berlin said meanwhile, after Spain's central bank said on Wednesday it would do the same to calm fears about the strength of its banks.

France has not made public its own bank stress tests but Lagarde has said she favours publishing them.

The governor of France's central bank Christian Noyer said on Thursday that he favoured "the publication of the stress tests in Europe broken down by country and by bank".

European Union leaders were in Brussels on Thursday for an EU summit focussed on tackling Europe's financial and economic woes.

The German source said they would discuss how best to publish the results of stress tests, which aim to determine how well equipped banks are to withstand a major event such as default by a key debtor.

© 2010 AFP

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