Europe must tackle financial fragmentation, says ECB’s Cœuré

benoit-coeure

The creation of a European banking union is an important step to ensuring the financial stability of the European Monetary Union and would halt the increasing fragmentation of capital markets along national borders, according to Benoît Cœuré, a member of the executive board of the European Central Bank (ECB).

Cœuré said financial integration is being damaged by banks retreating to their domestic markets and this has created the perception that banks' liabilities differ from one country to anothe

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