Eight banks fail EU stress test with 16 in danger zone

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http://www.bbc.co.uk/news/business-14169940

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 were in the danger zone.

The EBA called on national financial regulators to ensure that capital shortfalls would be quickly resolved.

Five Spanish banks failed, as well as two in Austria and one in Greece.