AT the EU Summit 2010, the leaders of the European Union have reportedly revealed that they are all set to go public with the results of the â€œstress testsâ€. These tests help in analyzing the stability of blocâ€™s banks to restore some confidence to the erratic markets ever since Greece asked for a bailout.
According to reports, there are fears that Spain may be the country that might need some help after Greece. The majority of the leaders at the EU Summit held in Brussels,said that they are not really worried about the situation.
The President of France, Mr. Nicolas Sarkozy stated,
â€œWe donâ€™t believe there is a problem, and thatâ€™s the analysis of all 27 of us.â€ He further said that the European Central Bank and the European Commission agree to him, and Europe has â€œfull confidenceâ€ in the Spanish authorities.
The Spanish Prime Minister, Jose Luis Rodriguez Zapatero, told reporters that the tests would help by giving investors confidence in Spanish banks and would also â€œdemonstrate that our financial institutions are properly supervised, that they work.â€