Norway doesn’t need no stinkin’ stress tests

The European Union's banking stress tests cover 91 banks in 20 countries. Seven of those financials are Nordic -- but none of them are Norwegian, reports FT Alphaville. Norway is of course, not a member of the EU, but it keeps close ties, and seems to have had the option to participate in the tests -- if it wanted. Only, it really didn't. The head of the Norwegian FSA, a Mr Bjørn Skogstad Aamo is quoted in Thursday's Dagens Naeringsliv saying there was “no national need" for its banks to participate in the stress test.