BRUSSELS (MNI) – European Union member states should keep in mind
the need for the right diagnosis and appropriate solutions while
carrying out stress tests on banks, said European Central Bank President
Jean-Claude Trichet said on Monday.
Speaking to the European Parliament’s Economic and Monetary Affairs
Committee, Trichet encouraged member states to work very actively to
ensure that they have “the appropriate diagnosis and appropriate
solution.”
European Union leaders agreed at their summit last Thursday that
European banks should be subject to stress tests and that the results
should be published before the end of July.
Trichet said that was a “very important decision” and that the ECB
called on all partners to be “extremely keen” to work actively in the
weeks ahead.
According to Spanish Prime Minister Zapatero, whose country is
nearing the end of its six-month EU presidency, the stress tests should
be “stringent” and “demanding in nature.”
Trichet said the ECB was continuing to work with the European
Commission as much as possible for “this very important and very serious
exercise.”
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