Wealth Finance

The Euro zone summit meeting originally planned for Friday has apparently been delayed – probably until next week or until an agreement can be announced.

Meanwhile the bank stress test results will be released on Friday, and there is already disagreement about the results.

Leaders of countries in the euro zone are likely to meet next week to discuss a second aid package for Greece as well as private-sector involvement in reducing the country’s debt burden, EU diplomats said on Wednesday.

EUROPE HAS to respond comprehensively and decisively to the economic crisis, Taoiseach Enda Kenny told the Dáil. Ireland will contribute to that, he said.

Mr Kenny said there was no point in having a EU Council meeting tomorrow unless there was a decision, or set of decisions, on the European situation.

Germanys Landesbank Hessen- Thueringen snubbed the European Unions bank stress tests two days before the publication of results, refusing to give the European Banking Authority permission to publish all of its data.

The bank, known as Helaba, disputes the EBAs measurements of Core Tier 1 capital, the factor by which banks are said to have passed or failed the tests, because they dont include some instruments allowed by German regulators. The lender said it passed the exams with a capital ratio of 6.8 percent, counting contractual changes around state funds of 1.92 billion euros ($2.71 billion), not included in the EBA results.

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