i am peter dobbie. bp says the cap of the ruptured oil well in the gulf will be in place even if there is a tropical storm. and president hugo chavez of venezuela is breaking off diplomatic relations with colombia after being accused of harboring rebels. banks across europe have been ordered to undertake stress tests suit assess how they could cope -- to assess how they could cope with a new recession. regulators will determine how much capital european banks will need. >> in the midday summer madrid, this is what unit. for months, spain at's banks have been gasping for liquidity. it seems many of them face painful losses. how week are spanish banks? we will then tomorrow, when european regulators unveiled the results of tests on the 91 biggest banks in europe. but the creditors of banks in spain have been so concerned, they are demanding their money back. >> spanish banks, they have suffered terribly from the squeezing of the funding market. the main problem in the banking system in spain is not insolv