ECB to announce bank finances review results Oct 26October 10, 2014 - 23:03 AMT PanARMENIAN.Net - The European Central Bank says it will reveal the results of its much-awaited review of bank finances on Sunday, Oct 26, the Associated Press reported. The exercise is an attempt to purge so-called zombie banks that are too troubled to make new loans and support the struggling eurozone economy. The idea is that the review will force weak banks to either fix their finances or be restructured or sold — and help growth. The ECB will say which of 130 big banks need more capital as a buffer against losses, based on a review of their finances and on stress tests of how they would fare during economic turmoil. The ECB said Friday that banks that flunk will have two weeks to say how they intend to raise more capital. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |