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$$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$

 
Anonymous Coward
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07/16/2011 07:07 PM
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$$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
European banks are set for a day of “chaos” on Monday as investors and analysts derided the latest round of industry stress tests as “inadequate”.

The nine banks that failed the European Banking Authority’s (EBA) stress tests will have to raise just €2.5bn (£2.2bn) between them to meet their capital shortfall.

City analysts and investors said the criteria used by the EBA were overly optimistic and failed to capture the severity of the current sovereign debt crisis sweeping across the eurozone.

“If the European Union could monetise the value of the credibility it has destroyed it would be the richest organisation on earth,” said one major credit manager.

The detail provided by the banks is far greater than in last year’s stress tests and the fear now is that with so much information fund managers and bank analysts will be able to make their own judgments on how much extra capital will be required by the 90 banks covered by the tests.

“I think next week could see chaos. It’s clear the tests the EBA has done are inadequate. We now have the weekend to work out what the banks really need,” said one analyst at a major European bank.

Using tougher criteria, Credit Suisse analysts said at least 14 banks should have failed the test.

Credit Suisse estimated that these banks, which would include all seven Greek banks participating in the process, need to raise about €45bn in new capital.

Read more: [link to www.telegraph.co.uk]

-----

Don't worry, Europe. George Soros will save you.
Europe Needs a Plan B : [link to www.project-syndicate.org]
Anonymous Coward (OP)
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07/16/2011 07:10 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
European stress tests reveal continuing weakness
8 banks fail, 16 barely pass; regulators are urged to call for quick solution


ROME - Europe’s banking system remains heavily dependent on government support and would be at risk if another economic downturn hits, the European Banking Authority said yesterday in a report that highlights the lingering weakness in a financial system considered integral to a stronger global recovery

The inability of Europe to better bolster its banking system and make it less dependent on public support has been a central feature of the region’s economic troubles. It is related to the sovereign debt crisis, because many banks hold the bonds of heavily indebted European countries.

[link to www.boston.com]
Anonymous Coward (OP)
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07/16/2011 07:11 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$

Anonymous Coward
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07/16/2011 07:12 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I THOT THIS NEWS CAME OUT FRIDAY BEFORE THE us MARKETS CLOSED

BUT US MARKETS DIDNT TANK
Anonymous Coward (OP)
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07/16/2011 07:13 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I THOT THIS NEWS CAME OUT FRIDAY BEFORE THE us MARKETS CLOSED

BUT US MARKETS DIDNT TANK
 Quoting: Anonymous Coward 1417728


The more they dig, the less they like.
Anonymous Coward (OP)
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07/16/2011 07:21 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Financial DOOM bump
Least Servant

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07/16/2011 07:42 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I THOT THIS NEWS CAME OUT FRIDAY BEFORE THE us MARKETS CLOSED

BUT US MARKETS DIDNT TANK
 Quoting: Anonymous Coward 1417728


Hear no evil, see no evil, speak no evil... it's business as usual for the average investor on Wall St., as far as I can tell... hmm
:romaflag:
Not enough to fight, too many to die.
bill shitters 1.2

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07/16/2011 07:44 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
awsome. they just. magic more money TO pad out a failed idea
and find. its the tax payer getting shafted


in the end. my gold and. silver will exceed monetary inflation
The retired thread killer


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we come in peace shoot to kill
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I can not talk TO aliens but do listen to the anally probed
Anonymous Coward
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07/16/2011 07:46 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I THOT THIS NEWS CAME OUT FRIDAY BEFORE THE us MARKETS CLOSED

BUT US MARKETS DIDNT TANK
 Quoting: Anonymous Coward 1417728


It did come out friday before the close -
eagleman

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07/16/2011 07:57 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Op very informative post with links. The news did indeed come out late Friday morning & the markets did just brush this negative news aside. However Friday was options expiration day & on the 3rd Friday of the month it usually a lackluster day as its option writers payday. Maybe next week this news will be viewed as a negative.
Also keep an eye on major companies reporting thier quarterly earnings, some heavyweight this week will be reporting. Don't forget about the debt ceiling vote this week!

Just watch how the currency market opens in less than 24 hrs.
You would expect the Euro to be under pressure.

Last Edited by eagleman on 07/16/2011 08:01 PM
Anonymous Coward (OP)
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07/16/2011 08:19 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Op very informative post with links. The news did indeed come out late Friday morning & the markets did just brush this negative news aside. However Friday was options expiration day & on the 3rd Friday of the month it usually a lackluster day as its option writers payday. Maybe next week this news will be viewed as a negative.
Also keep an eye on major companies reporting thier quarterly earnings, some heavyweight this week will be reporting. Don't forget about the debt ceiling vote this week!

Just watch how the currency market opens in less than 24 hrs.
You would expect the Euro to be under pressure.
 Quoting: eagleman


This coming week will definitely be interesting.
SEVEN THUNDERS, ON ALERT
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07/16/2011 09:22 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
HEY B.S.

I HEAR YE LAD LOUD N CLEARY

PASSED A TV ON IN A PUB HERE, THRU THE WINDOW ABOVE THE BAR I COULD SEE ON THE FLAT SCREEN A "COUNTDOWN CLOCK TO THE DEBT CEILING"

SO THEY HAVE TURNED IT INTO A CIRCUS TO GET SHEEPLE AWARE.

MAKE HAY WHILE THE SUN SHINES

YOU CAN SELL THE SURPLUS!

WE HAVE A MASSIVE HEAT WAVE HERE FOR THIS WEEK AHEAD

COULD BE POWER OUTAGES FROM OVERUSE OF AIR CONDITIONERS

ALSO DOES NOT BODE WELL FOR THE CORN CROP, ALREADY PISSPOOR
FROM LATE PLANTING AND COOL/WET SPRING

I PREDICT GOLD SOARS WELL PAST 1600. ITS 1593-1595 ALREADY

STAY ON THE WATCHTOWER OVER THERE. WE WANT YOUR E.U. NEWS!!!
Tod Shwarze
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07/16/2011 09:26 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
They will allow it to collapse when they want to, not a moment before, unless perhaps the bastille itself is stormed.
that is only the province of the uniformed services who at present are intent onky on sucking the joint of chiefs staff
wisdomknight

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07/16/2011 09:28 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I PREDICT GOLD SOARS WELL PAST 1600. ITS 1593-1595 ALREADY
 Quoting: SEVEN THUNDERS, ON ALERT 1265508


Wow arent you the risky predictor!
"I find your lack of faith disturbing."
Anonymous Coward
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United Kingdom
07/16/2011 09:28 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
awsome. they just. magic more money TO pad out a failed idea
and find. its the tax payer getting shafted


in the end. my gold and. silver will exceed monetary inflation
 Quoting: bill shitters 1.2


don't ever talk like that again
LieGroupE8

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07/16/2011 09:32 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
THAT IS NOT HOW THE MEDIA IS SPINNING IT:


[link to online.wsj.com]

Few Banks Fail EU Exams


After Only Eight of 90 Lenders Flunk, Skeptics Question Rigor of 'Stress Tests'.

bushfing
"More are the names of God and infinite are the forms through which He may be approached." -- Ramakrishna

There is nothing covered, that shall not be revealed,
and hid, that shall not be known.

"A God who gets angry if you don't worship him is no God.
To worship is divine but no God can compel you to worship Him." -- Krishna

"People in high places will be hunted down like animals."
-- Hopi prophecy

"If it ain't metal, its crap." -- D. Snyder
Anonymous Coward (OP)
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07/16/2011 09:42 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
U.S news:
On debt, credit rating firms flex muscle with downgrade warnings despite U.S. pleas

The Obama administration has mounted an intense behind-the-scenes campaign to keep the nation’s major credit rating companies from issuing threats that they might downgrade the United States over the swelling size of the federal debt.

Senior administration officials have been trying for months to convince analysts at the credit rating companies — all part of publicly traded firms — that political leaders in Washington can come to an agreement to tame the debt.

At one key moment, worried that news of a potential downgrade could wreak havoc on the markets, officials summoned four Standard & Poor’s analysts to a meeting with nearly every senior member of President Obama’s economic team at which Treasury Secretary Timothy F. Geithner made an impassioned plea against any action raising doubts about U.S. credit.

But S&P didn’t buy the argument — and one of the two other credit rating firms, Moody’s Investor Services, has expressed concern, too

Read more: [link to www.washingtonpost.com]
Anonymous Coward (OP)
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07/16/2011 09:42 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Days of Reckoning Disaster looms on both sides of the Atlantic: [link to www.nationalreview.com]
Anonymous Coward
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07/16/2011 09:49 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
.
Anonymous Coward (OP)
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07/16/2011 09:54 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I PREDICT GOLD SOARS WELL PAST 1600. ITS 1593-1595 ALREADY
 Quoting: SEVEN THUNDERS, ON ALERT 1265508


Wow arent you the risky predictor!
 Quoting: wisdomknight


cruise
SEVEN THUNDERS, ON ALERT
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07/16/2011 09:58 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
RE READ

I SAID "WELL PAST" 1600

BY THAT I MEAN A $25 TO $5O INCREASE IN A SINGLE DAY

KINDA SNARKY THERE 'WISDOM'

PLAY NICE IN THE SANDBOX, WE WANT NEWS FROM ALL SOURCES

TIMES LIKE THIS, USUALLY RESULT IN FRANZ FERDINAND MOMENTS
LieGroupE8

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07/16/2011 10:10 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
The Obama administration has mounted an intense behind-the-scenes campaign to keep the nation’s major credit rating companies from issuing threats that they might downgrade the United States over the swelling size of the federal debt.

Senior administration officials have been trying for months to convince analysts at the credit rating companies — all part of publicly traded firms — that political leaders in Washington can come to an agreement to tame the debt.

 Quoting: Anonymous Coward 546759


Here is how it will play out:




laugh
"More are the names of God and infinite are the forms through which He may be approached." -- Ramakrishna

There is nothing covered, that shall not be revealed,
and hid, that shall not be known.

"A God who gets angry if you don't worship him is no God.
To worship is divine but no God can compel you to worship Him." -- Krishna

"People in high places will be hunted down like animals."
-- Hopi prophecy

"If it ain't metal, its crap." -- D. Snyder
Elenin

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07/16/2011 10:11 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Financial DOOM bump
 Quoting: Anonymous Coward 546759


Worse than prohibition?

band
exStepfordian

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07/16/2011 10:51 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
bump
All truth passes through three stages. First, it is ridiculed.
Second, it is violently opposed. Third, it is accepted as being self-evident.
~Arthur Schopenhauer
Anonymous Coward
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Finland
07/17/2011 04:53 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Sorry to dissapoint you. No doom. They were only minor banks that failed..
Anonymous Coward
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Portugal
07/17/2011 05:03 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Again U.S. rednecks see British "news" as the truth. cruise
Anonymous Coward
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07/17/2011 05:08 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
I THOT THIS NEWS CAME OUT FRIDAY BEFORE THE us MARKETS CLOSED

BUT US MARKETS DIDNT TANK
 Quoting: Anonymous Coward 1417728
Anonymous Coward
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Italy
07/17/2011 05:18 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
for the ones who knows how these test are runt.....well all the banks should have fail that test

""by the terms of Basilea 3 (standard for the banks) Lehman Brothers would be okay"""

[link to intermarketandmore.finanza.com]


""""The farce continues .... Only needed 2.5 billion euros to recapitalize the banks! It 'a joke, like other stress tests . Figures absolutely inconsistent with what is written in the past after exposure to the debt PIIGS."""


[link to intermarketandmore.finanza.com]

(translation on top of the pages)
lancifer93

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Canada
07/17/2011 05:18 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
Meanwhile in the USSA...only 4 banks went breasts up on Friday night!

[link to www.fdic.gov]
Plant or Perish
Anonymous Coward
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07/17/2011 05:24 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
We in the US have had hundreds of bankes fail.. all it ever did for the market is make it go up... This might be a good thing for the market...
Anonymous Coward (OP)
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07/17/2011 05:28 PM
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Re: $$ BREAKING -- European stress tests: banks set for 'chaos Monday' after nine fail $$
for the ones who knows how these test are runt.....well all the banks should have fail that test

""by the terms of Basilea 3 (standard for the banks) Lehman Brothers would be okay"""

[link to intermarketandmore.finanza.com]


""""The farce continues .... Only needed 2.5 billion euros to recapitalize the banks! It 'a joke, like other stress tests . Figures absolutely inconsistent with what is written in the past after exposure to the debt PIIGS."""


[link to intermarketandmore.finanza.com]

(translation on top of the pages)
 Quoting: Anonymous Coward 1471697


Good post.
clappa





GLP