The world’s financial markets ignored the results of stress tests applied to European banks, and the wave of risk asset sales extended in the context of the absence of a solution to the Greek debt crisis, which has sparked fears of contagion to Italy and Spain.

Of the 90 European banks that underwent stress tests last Friday, only eight failed to reach the minimum Capital Tier 1 Ratio of 5%, and five of those were Spanish institutions.

At least a fourth of the 91 European banks and other financial institutions undergoing stress tests by authorities will have to be suspended.