Scale Up or Fall Behind: EU Banks Confront their US Rivals The European Union's top officials have a stark message for the region's banks: they must significantly increase their size and capital market presence to compete with Wall Street behemoths.
This week in Dublin, finance ministers and central bank governors discussed a report calling for reduced political interference in bank mergers and an end to barriers to cross border banking within the bloc.
The EU's financial market is characterized by 27 different national systems, each with its own tax regimes, rules, and legal frameworks that hinder efficiency and raise costs.