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Schmid, Simon

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Tages-Anzeiger - Switzerland | 27/10/2014

ECB has passed its own stress test

The ECB's bank stress test has been a successful rehearsal for the banking union, the daily Tages-Anzeiger comments: "For the first time the European Central Bank has submitted all the bank balance sheets to the same scrutiny. That marks the start of a new era for the markets, but also for the ECB. In future it must supervise the biggest European banks to ensure that fears over the banking system don't paralyse the economy once more. The chances are good that the guardians of the euro are up to the task. With the stress test they have mastered a mammoth project. 6,000 specialists worked for more than a year on it, thousands of documents have been scanned, millions of files put together. There were great expectations of solid results. The current result shows that the ECB has also passed the test for starting the banking union."

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