The European Central Bank announced that it will unveil the "criteria on which it will evaluate the health of the Eurozone's largest banks" on October 23, reports Les Echos.

These tests, "could uncover weaknesses which could be costly to offset while the euro area still lacks a common mechanism to recapitalise the most fragile institutions", a crucial step to restoring confidence in the European banking system, and guarantee a "strong and sustainable economic recovery," adds the newspaper.

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