Trust requires full transparency

Despite the planned publication of the stress test results of a number of banks, the European governments are primarily concerned with concealing the true state of affairs as regards the economic situation in Europe, the conservative daily Die Presse writes: "In keeping with state discretion the results of the 'stress tests' are still confidential. These analyses will be carried out by the national central banks with the aim of assessing the shock resistance of the financial institutions. … In future all the stress tests carried out at Europe's major banks are to be made public. A correct step, but the smaller banks must follow suit. Only through higher transparency can it be proven that the banks' fundamental data is better than expected in many places. And consequently that the speculation about the difficulties of entire countries is unfounded. Those who continually avoid full transparency only increase the nervousness of the markets much more than any 'US' rating agency could ever do."

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