Memo: Statement by Vice President Rehn on the publication of results of stress tests of Slovenian banks

On 12 December 2013 Vice President Rehn welcomed the publication of the independent assessment of the health and resilience of the Slovenian banking sector.

The assessment was carried out by four leading external consultants within the timeframe specified by the Council and the process was conducted in very close cooperation with the European Commission, the European Central Bank and the European Banking Authority.

The test results said Slovenia can recapitalise its banking sector without international help. But the role of financial consultancies, Oliver Wyman and Roland Berger, and auditors, Deloitte and Ernst & Young, in the exercise has prompted questions on lack of transparency and conflict of interest.

• Primary Source

ESO: Background information: Slovenia rules out bailout http://www.europeansources.info/record/slovenia-rules-out-bailout/

Council of the European Union: Press Release, 12.12.13: Statement by the President of the Eurogroup on Slovenia http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/140062.pdf

Delo, 13.12.13: Slovenians can't go on paying for banks (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE135258-Slovenians-can-t-go-on-paying-for-banks

EUObserver, 30.12.13: Slovenia: Bank tests treated as military secret http://euobserver.com/economic/122584

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