Irish bank review will be part of EU stress tests

LONDON Fri Dec 6, 2013 7:17am EST

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LONDON Dec 6 (Reuters) - The European Central Bank has agreed to use the results of an Irish review of the quality of the assets of its main lenders as part of pan-European stress tests, Finance Minister Michael Noonan said on Friday.

The health of Ireland's banks, which the state bailed out in 2008, are the main concern surrounding the country's exit from an EU/IMF bailout this month and a lingering worry for investors.

"Two months ago I got agreement with Mario Draghi that we would be the first to do the asset quality review ... but that we wouldn't have to do it a second time. This would be taken as part of the European round of asset quality reviews," Noonan said at an event in London.

The European Central Bank did not immediately respond to a request for comment.

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