The Eurozone’s biggest banks would not be able to survive another financial crisis, according to the results of a stress test taken by the European Central Bank. However, the test also showed that these banks have made steps to address the problem and are already on their way to financial recovery. Many media outlets have used misleading scare tactics, highlighting the failure of the banks in their headlines, in an apparent attempt to grab the attention of those who wouldn’t normally read financial journalism. We look at flaws in the ECB’s test and what the “failure” actually exposes about the Eurozone’s banks, in this Lip News clip with Gabriel Mizrahi.
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