Irish banks fare poorly in European stress tests

The European Banking Authority carried out the research to assess whether financial institutions have enough resources to deal with another major economic crash – if it were to happen again. 

The Irish lenders are among the bottom ranked out of 51 banks across the bloc. 

The tests are aimed at boosting the flow of credit to Europe's economy – the authority says while the situation has improved in recent year the tests show more work is needed to secure banks' operations.