ECB President Lagarde supports cross-border bank mergers in Europe to bolster competitiveness against US and China.
ECB President Christine Lagarde advocates for cross-border bank mergers in Europe, citing their potential to enhance competitiveness against US and Chinese banks. Her support comes amid speculation about UniCredit's stake in Commerzbank, which has raised concerns in Germany about job losses and economic nationalism. Lagarde emphasizes careful evaluation of merger risks while maintaining that larger banks are essential for global competition. The ECB will review any merger proposals.
September 29, 2024
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