Constâncio predicts ‘gradual decline’ in size of eurozone banking sector
Vítor Constâncio, the European Central Bank (ECB) vice-president, today predicted a "gradual decline" in the size of the eurozone banking sector as firms increasingly turn to the capital markets for their financing.
Constâncio told an audience at an Institute of International and European Affairs (IIEA) conference that the eurozone economy will shift away from the existing "high" levels of band-based intermediation and towards more capital markets-based intermediation.
As a result, the banking
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