Irish banks pass euro stress tests

ALL three Irish banks have passed the annual health check on whether they could survive further economic shocks.

However, the results show almost two-thirds of the country’s sovereign debt held by banks is held domestically, underlining their exposure to risk.

An emergency summit of eurozone leaders has been called in Brussels next Thursday as the banking stress tests results were released in London last night, fuelling hopes that politicians may at last agree a solution for the Greek crisis, even as it threatens to extend to Italy and Spain.