10 lessons from the Cyprus bailout | Money | The Guardian
Point 9 is a good one. One wonders what else they have missed...
Point 9 is a good one. One wonders what else they have missed...
The European Banking Authority's annual healthcheck on eurozone banks at the height of the euro crisis in July 2011 revealed significant concerns about just eight banks – five Spanish, one Greek and two Austrian. The Cypriot banks – Bank of Cyprus, Laiki, and Hellenic – passed what was supposedly a gruelling assessment.
Bank of Cyprus chief executive officer Andreas Eliades (who resigned on ) said at the time: "The stress test results justify the group's strategic choices and actions, and illustrate its very strong capital base even under the most extreme, difficult and adverse scenarios." All of Britain's banks also passed these stress tests. Make of that what you will.
Bank of Cyprus chief executive officer Andreas Eliades (who resigned on ) said at the time: "The stress test results justify the group's strategic choices and actions, and illustrate its very strong capital base even under the most extreme, difficult and adverse scenarios." All of Britain's banks also passed these stress tests. Make of that what you will.
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