Draghi Says He’s Certain Italian Banks Will Pass Stress Tests

July 08, 2011, 9:02 AM EDT By Jeffrey Donovan

July 8 (Bloomberg) -- Bank of Italy Governor Mario Draghi said he’s certain that the country’s lenders will pass European stress tests.

“I’m certain, based on our analyses, that the Italian intermediaries will pass with a signficant margin, the stress tests that are currently being undertaken in Europe, confirming their adequate level of capitalization,” he said in an e- emailed statement today.

He added that new Italian austerity measures make balancing the country’s budget in 2014 a “realistic” goal.

To contact the editor responsible for this story: Jeffrey Donovan at jdonovan26@bloomberg.net

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