Stress test is certainly the right word. This weekend — on Sunday to be precise — the European Central Bank will release the results of its audit of the European banking system. It is, however, the markets that are likely to end up as least as stressed as the banks under examination. The ECB is likely to fail at least a few of the financial institutions it has been looking at. If it doesn’t, the tests will have been pointless. The trouble is, if those banks are forced to raise more capital to stay in business, there will be few takers for the shares. In reality, no one in their right mind will want to invest in a ... (full story)