Markets still nervous

Europe is following the US's example with the stress tests and will encounter the same problems, the business paper De Tijd writes: "Either the stress test says everything's okay or the test itself comes under fire. Just like in the US people will then start talking about cooking the books and boosting market morale. ... There can be no doubt about the benefits of the stress test for the financial sector: It's an excellent instrument for measuring risk. But publishing the results is a different matter. The question is above all whether publication can restore trust. The answer is no. The European banks are under pressure because they finance a large part of European public debt. As long as there is no credible policy for reducing public deficits the banks will have to learn to live with a high amount of stress. They don't need to be subjected to tests for this."

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