Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-723-000"

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". Mr President, on 18 March the new European banking authority published the scenarios and the stress tests through which it wishes to check European banks. If we want the experts to accept the results of these tests, we must avoid the superficiality and inconsistency which characterised the banking sector tests of July 2010. In view of the fact that the credibility of the entire European financial sector will probably be assessed according to the stringency of these tests, it would be good for the tests to be as comprehensive as possible, and for them to reflect in their stringency the actual risks the financial sector may face in the current period. In my opinion, these tests should not therefore avoid an adequate assessment of the exposure of the banks towards specific state debts, or the debts of other banks, in order to take account of the worst case scenarios in the tests, such as a country becoming bankrupt, for example. We must also ensure a balanced and fair approach towards assessing the various banking structures and business models in the individual Member States, and try to ensure that the new stress tests relate, as far as possible, to the entire banking sector in each Member State. Only thus will we regain the confidence of the financial experts."@en1
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