French Finance Minister : stress tests will show recovery of European banks.

Said French Economy Minister Christine Lagarde said yesterday that as a result of stress tests undergone by the European banks will be deployed near July 23 ( July) . Oversight bodies and the European Banking tests to see how the banks will be affected by any sharp slowdown in the economy or other shocks , which aims to strengthen the confidence the banking sector.
Lagarde said the reporters on the sidelines of a conference :'' you will soon see the number of banks that will be subject to a stress test . Will consist of you have a better understanding of the standard which we apply the exact pressure and how strongly the banking system , and then will be issued as a result of a stress test later in July 23 ( July) '' . She said '' and you will see that banks in Europe a strong and sound '' .
On the other hand , "said Jean- Claude Trixie European Central Bank President yesterday, he did not believe that Europe is facing a recession and renewed his support for reforms and reduction of budget deficits to bolster confidence. Trixie told journalists on the sidelines of an economic conference in the province of X -en-Provence French, that plans to place European banks challenge tests '' would be '' an important element also in the restoration of market confidence . Said Trixie ''( to achieve ) sustainable growth over the long term should enhance confidence, and this means that there are special policies for all to see the budget balanced and sustainable development '' .
He added that the efforts of Governments and austerity plans to reduce the budget deficit will not stifle growth , but will restore confidence.
When asked whether he thought that Europe is facing a recession again, '' said Trixie do not think so at all. Clearly, at the global level that we are a stable recovery , especially in emerging countries , but also in the industrial world '' .