Germany's second-largest bank, Commerzbank, is planning to cut between 4,000 and 6,000 jobs. The lay-offs are part of a larger trend of scaling back among German banks.
Shares of Deutsche Bank and Credit Suisse have been dropped from the prestigious Stoxx Europe 50 share index. Is European banking in decline? And if so, what are the factors that led to its current parlous state?
Deutsche Bank and Commerzbank didn't fare too well in EBA's stress test - most competitors have healthier balance sheets. But investors remained confident early on the first trading day after the results came out.
Ever heard of the tugrik? It's Mongolia's national currency and right now the world's worst-performing one. The tugrik is under enormous pressure as the fall in commodity prices hits it hard.
Stress tests of Europe's biggest banks showed most are healthy. A few appeared wobbly: Italy's Banca Monte dei Paschi di Siena, Allied Irish Banks, Scotland's RBS, Austria's Raiffeisen and Spain's Banco Popular.
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