US-based Oliver Wyman and German strategy consultant Roland Berger published their much-anticipated stress tests of Spain’s banks on June 21.
The studies were undertaken in an attempt to quell mounting speculation as to the true health of the sector. The banks were stressed under base and adverse scenarios with the aim of coming up with essentially a worst-case scenario.
The adverse scenario entailed two consecutive years of severe economic recession with real GDP declines of 4.1% and 2.1%,
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