German banks attack publication of stress test data / EU states working on ‘backstops’ for banks

Article reported that German banks launched a stinging attack in July 2011 on the imminent publication of highly detailed information about their holdings, claiming these could worsen the sovereign debt crisis and encourage 'targeted speculation' against individual financial institutions.

The European Banking Authority was set to publish the results of the bank stress tests across Europe on the 15 July 2011.

ESO: Background information: Banks: Again under strain http://www.europeansources.info/record/banks-again-under-strain/

EBA: EU-wide stress testing http://www.eba.europa.eu/risk-analysis-and-data/eu-wide-stress-testing

ESO: Background information: German regulator attacks EBA stress tests http://www.europeansources.info/record/german-regulator-attacks-eba-stress-tests/

La Vanguardia, 15.7.11: Spain contests bank test results (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/777871-spain-contests-bank-test-results

BBC News, 14.7.11: German bank Helaba 'to pull out of stress tests' http://www.bbc.co.uk/news/business-14148180

EUObserver, 12.7.11: Van Rompuy: Emergency euro summit 'not excluded' http://euobserver.com/9/32619

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