Europe needs to unleash its banking union
Europe needs to unleash its banking union
Unicredit’s announcement last week that it had built up a 9 per cent stake in Commerzbank sparked a rare giddiness among European bank watchers. In the continent’s highly fragmented banking system, mergers a…
Europe needs to unleash its banking union
Unicredit’s announcement last week that it had built up a 9 per cent stake in Commerzbank sparked a rare giddiness among European bank watchers. In the continent’s highly fragmented banking system, mergers are often confined to entities from the same country and lending activity is largely home-biased. Onlookers hoped the Italian bank’s move could pave the way for a deeper tie-up between Italy and Germany’s second-largest listed lenders, and kick-start consolidation across the bloc.