Nouy: Europe’s bankers need courage for cross-border mergers
Bankers have “turned inwards” in face of difficulties, says ECB supervisor
European bankers needed to show more boldness in arranging cross-border mergers, Danièle Nouy said on September 27.
Europe was overbanked, and would benefit if more of its financial institutions merged, the chair of the European Central Bank’s supervisory arm told an audience in Madrid.
But the number of mergers and acquisitions among eurozone financial institutions had actually declined since 2007, she said: “In 2016, they reached their lowest level since 2000, both in terms of the number of
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