Seven banks failed the stress test, and five of the seven are Spanish savings bank.
With this announcement, wouldn’t it spark a bank run?
In the Philippines, during the martial law rule, some banks were closed down because of bank runs.. some people were not able to get their hard-earned money.
For more of the news on EU stress test, go to:
http://edition.cnn.com/2010/BUSINESS/07/23/europe.bank.stress.test.ft/index.html?hpt=T2#fbid=JtUk4r45LiP
