Stress tests will proceed despite EU postponement
THE Irish authorities last night insisted that banking stress tests would go ahead in November -- even though the Europe-wide review that they were timed to run alongside has been postponed until 2013, writes Laura Noonan.
The comments from the Department of Finance and Central Bank came after the European Banking Authority announced last night that its mooted November tests would instead take place in 2013.
"The minister has always said that we'd go ahead without the EBA if the EBA didn't go ahead in November," a spokesman for Finance Minister Michael Noonan said last night, adding: "Our stress tests will be in November."
A spokeswoman for the Central Bank also confirmed that it was working towards a November timeframe.