July 12, 2011
European officials vowed on Tuesday to support banks that fail stress tests but left unresolved deep disputes that have held up a second rescue package for Greece.
The results of the stress tests, which are scheduled to be released on Friday, could pose a headache for the 27 European Union finance ministers who met here to discuss ways to ease the region’s financial turmoil.
Olli Rehn, the European Union’s commissioner for economic and monetary affairs, said that once vulnerable banks were identified they “must recapitalize themselves, or be recapitalized or restructured.”
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