Olli Rehn has spoken on the current economic and financial situation in Europe. He referred to the strength of banks, which he said increased their capital by €50 billion in the run-up to July’s stress tests. He noted some banks had failed the tests and had been told to take action, and that banks had recently experienced funding difficulties. But he said he expected funding conditions to improve as recapitalisation takes place. (Source: Olli Rehn Speech on Economy 29 August)