Economy

xchrom

(108,903 posts)

20. Ireland ‘to test banks’ ahead of EU-wide exercise

Sat May 4, 2013, 08:17 AM

May 2013

http://www.irishtimes.com/business/economy/world/ireland-to-test-banks-ahead-of-eu-wide-exercise-1.1381855

Ireland has resolved a standoff with international lenders over the timing of so-called "stress tests" of its bailed-out banks that threatened to cloud its exit from an EU-IMF rescue deal at the end of the year, four sources close to the matter said.

The government has agreed the tests - aimed at gauging banks' resilience to economic shocks - could take place ahead of a Europe-wide exercise, in line with the European Union and International Monetary Fund's desire for the banks to be checked before the end of Ireland's sovereign bailout deal in December.

Dublin had wanted the tests carried out in conjunction with a European-wide exercise, expected in early 2014.

"The situation has been defused," one of the sources told Reuters.

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