IMF’s Blanchard Says EU Stress Tests ‘Urgent’: Tom Keene

Stress tests on European banks are “most definitely” needed, the International Monetary Fund’s chief economist said.

“We need to understand exactly the interaction between sovereign risks and financial risks,” Olivier Blanchard said in a Bloomberg Television interview on “Surveillance Midday” with Tom Keene today. “We need to understand the balance sheets of the banks,” he said, adding it was “very urgent.”