Stress test reaction: Investors like it, but analysts say it leaves more questions than answers

Some observers have even chosen to call the scenario a “non-event”. Others have viewed the tests as having the intended benefits in offsetting market anxieties, giving clarity and further assurance to the wider industry that banks will be able to ride out future possible economic downturns and defaults in sovereign debt holdings.

Financial Stability Board chairman Mario Draghi said: “The results provide additional clarity and transparency on the strength of the European banking sector”; and: “The EU stress test exercise is an important contribution to bolstering confidence in the European banking system.