Prof. Nouriel Roubini on upcoming stress tests by the European Central Bank
September 06, 2013
Excerpt from The Wall Street Journal -- "The European Central Bank will be 'tough' in the upcoming asset quality review and stress tests of the European banking sector, New York University professor Nouriel Roubini said Friday. 'I think they will be tough as they want to build a reputation' ahead of taking over the supervision of larger European banks, Mr. Roubini told reporters at a conference here. He added that he thinks the ECB's reviews will find that several Italian banks are undecapitalized, including some of the largest of the country."