Eight banks fail EU stress test
July 16th, 2011
15 July 2011 Last updated at 12:08 ET
Banks both inside and outside the eurozone were tested.
Eight out of 90 European banks have failed stress tests designed to ensure they could withstand another financial crisis.
The European Banking Authority (EBA), which carried out the healtcheck, said another 16 banks are in the danger zone.
The EBA called on national financial regulators to ensure that capital shortfalls are quickly resolved.
Names of failed banks will be released at 1630 GMT.
