Seven European banks fail EU stress tests: CBES

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Seven European banks failed the EU's stress tests for resistance to future financial crises, the CBES banking authority said on Friday.

According to CBES calculations of the effect of financial difficulties on lenders' capital strength, "seven banks would see their Tier 1 capital ratios fall below six percent," the body's key measure, it said in a statement.

© 2010 AFP

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