FSA chief warns Europe on bank takeovers

UK - Sir Howard Davies yesterday called on fellow European regulators to allow foreign takeovers of banks, warning that nationalistic limits on bank ownership were a block to a single financial market.

Sir Howard, chairman of the Financial Services Authority, the City watchdog, also repeated his view that Brussels should not create an overbearing single regulator for Europe.

He did not name the countries limiting ownership. But analysts said the Bank of Italy took the strongest national line in

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