- Bank capital raising to date adds to tests success
- Bank credit restrictions won’t hamper recovery
- 13 failed banks still to apply structural downsize or come up with plans to cover shortfall
- Results of tests guarantee that economic recovery will not be hampered by credit supply restriction
Into the Q&A
- Tests didn’t consider that deflation is going to happen
- Greek banks are set to cover their capital shortfalls with restructuring programs
- Banks were healthier and more robust than suggested by many analysts in recent past
- There is a lack of aggregate demand in Europe
- Corrections to banks health checks were minor in 48 hours since banks received results
- We are worried that there is not enough real growth and that there is big slack in economy
