France’s Lagarde says "confident" over stress tests

PARIS, July 20 (BestGrowthStock) – French Economy Minister Christine
Lagarde said on Tuesday she was “confident” about the results of
European bank stress tests due to be officially announced on
Friday.

“I am confident,” the minister said after a news conference,
but declined to enter in further details.

Europe is testing how 91 banks across 20 countries would
cope with another economic downturn and losses on sovereign debt
holdings, in an effort to restore confidence after the Greek debt
crisis hit markets and sparked fears the euro zone could
unravel.
The French banks subject to the tests are BNP Paribas
(BNPP.PA: ), Societe General (SOGN.PA: ), Credit Agricole (CAGR.PA: ),
and BPCE, plus the Franco-Belgian bank Dexia (DEXI.PA: )(DEXI.BR: ).

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(Reporting by Veronique Tison; writing by Daniel Flynn)

France’s Lagarde says “confident” over stress tests