Eight banks fail EU stress test

Eight banks fail EU stress test with 16 in danger zone-Eight out of 90 European banks have failed stress tests designed to ensure they can withstand another financial crisis. The European Banking Authority (EBA), which carried out the healthcheck, said another 16 banks were in the danger zone. The EBA called on national financial regulators to ensure that capital shortfalls would be quickly resolved. Five Spanish banks failed, as well as one in Austria and two in Greece. On Wednesday, Germany's Helaba pulled out of the stress tests, effectively making it the ninth bank to fail.