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Seeking to avoid nasty surprises, ECB to stress test eurozone banks

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Seeking to avoid nasty surprises, ECB to stress test eurozone banks

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The European Central Bank is launching stress tests for the eurozone’s banks. They’ll undergo a three stage probe, before the ECB formally starts to regulate them next year.

The Bank wants a tough review to avoid unpleasant surprises once it has taken charge. Earlier Europe-wide stress tests failed to spot risks that led to the banking crisis in Spain for example.

That country has just emerged from its latest recession. The Bank of Spain announced that the economy has made a tiny step to growth.

And in corporate news, Nokia presented its first tablet on the same day that one of the market’s leaders Apple showed off its latest gadgets.

We discuss all that with Caroline Connan from Bloomberg in this edition of Business Weekly.