Who's Afraid of a Stress Test?

The region may still be too much on the edge of crisis to handle the truth
Illustration by Bloomberg View

On Oct. 26 the European Central Bank released the results of new stress tests on European Union banks, hoping to convince financial markets that the banking system is strong enough to weather another crisis. The latest exercise is an improvement over previous ones, which were derided as too soft—but it’s still not good enough.

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