Draghi wants European public backstop for stress tests

mario-draghi

European Central Bank (ECB) president Mario Draghi today stressed that both national and European public backstops will be necessary to ensure the comprehensive assessment is a "credible exercise".

When the ECB unveiled details of its three-pronged assessment – including a supervisory risk assessment, asset quality review and stress test – it highlighted the importance of having national backstops "ahead of the completion of this exercise".

Draghi, speaking in Frankfurt this morning, also

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