The focus, of course, was on Italy. When Europe’s top financial regulators released the results of a much-anticipated stress test Friday night, it was the troubled Monte dei Paschi, which had just secured a government bail-out, that came in dead last among the 51 banks evaluated.
The test, conducted by the European Central Bank and European Banking Authority, examined how the continent’s top banks would fare in a severe crisis.
Germany’s embattled leading banks, Deutsche Bank and Commerzbank, didn’t get the worst scorecard in the group. But their results were well below the average across the continent. That alone is likely to keep up the pressure on their share prices.