Spanish News Wire: 11 Banks Are About To Fail Europe's Biggest Ever Stress Tests

Breaking news, Spanish news wire EFE says that that at least 11 of the 130 banks the European Central Bank is now in charge of testing have failed their reviews. That's across six countries. 

So here is the details, Three of the banks are Greek, three are Italian, two are Austrian, one is in Cyprus, one is Belgian and one is Portuguese, according to the report.

Update: there's some confusion as to whether these are the results of the European Central Bank's asset quality review (which includes a stress test), or the European Banking Authority's stress tests. The two run concurrently.