Banks, Europe Debt Crisis | featured news

Several European countries that banned short-selling have extended the prohibition until the end of September. When concerns about European banks’ exposure to Greek debt sent their stocks plummeting two weeks ago, market regulators in Belgium, France, Greece, Italy and Spain stepped in to prohibit traders from betting on the decline in a share’s price.

Stock markets in Asia opened sharply lower Friday amid signs of a possible U.S. recession and renewed worries over the financial health of Europe's banks.

Nearly one-third of 91 European banks undergoing the latest round of public stress tests could need external support to be brought up to scratch, Moody's said.

Under the plan, French banks would give Athens more time to pay back loans as they come due over the next three years.

Unlike their government, Greek banks were seen as well-managed and prudent before the crisis. Now they are struggling to find funding.

Ireland's ailing banks need another euro24 billion ($34 billion) in cash in a move that will leave all of them under state control and facing a complete overhaul, officials announced Thursday in a long-awaited effort to cap a 3-year banking crisis....

Stress tests on Ireland's four main lenders will reveal a capital hole of around 20 billion euros ($28.2 billion), The Sunday Business Post reported, without citing any sources.

Broad probe testing 91 European banks finds most are fit to withstand severe economic shocks.