Eight European banks fail stress tests

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Eight banks failed the European Union stress tests after regulators said they had a combined capital shortfall of 2.5 billion euros ($3.5 billion).

Greece’s EFG Eurobank Ergasias SA (EUROB) and Agricultural Bank of Greece SA, Austria’s Oesterreichische Volksbanken AG (VBPS) and Spain’s Banco Pastor SA (PAS), Caja de Ahorros del Mediterraneo (CAM), Banco Grupo Caja3, CatalunyaCaixa and Unnim failed. All banks tested in Italy, Germany, France, the U.K. and Ireland passed, the lenders said today.

Full story: Eight banks fail EU stress test with $3.5B shortfall