Wyplosz Says Political Meddling Undermines Bank Stress Tests
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Charles Wyplosz, the director of the International Centre for Monetary and Banking Studies in Geneva, said political interference has undermined European bank stress tests and he doesn’t have faith in the results.
“The big problem is that the stress tests were a concession among the heads of states about a month ago under market pressure,” Wyplosz said in a radio interview with Tom Keene on “Bloomberg Surveillance” today. “They have masterminded every step of it and for a lot of people, including me, it tells me that I won’t put too much confidence in what they come up with.”