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What you need to know about Europe's banks
Europe's banks are back in focus. Not only are many due to report next week there's an ongoing debate about who's going to foot the bill for repairing their balance sheets. On top of that the European Central Bank is about to announce the parameters of new stress tests.
Peter Garnry, Saxo Bank's Head of Equity Strategy, says the key issue is going to be what happens in Spain. He says this could be a major threat as they're far behind writing off bad loans. However, it's not all bad news. He says the stress tests should finally allow the European banking sector to turn a corner. And there's still, he believes, plenty of room for big gains, especially compared with their US rivals.
01:28 minutes
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