Tumpel-Gugerell: ECB role in financial integration

In the speech 'The Role of the ECB in Financial Integration' given on 11 May Gertrude Tumpel-Gugerell of the ECB said the euro area offers opportunities to share risk and to allocate capital more efficiently to investment opportunities across all countries of the area. However, the necessary financial linkages between regions and countries may also facilitate the fast propagation of shocks.

Regarding the European banking sector, first integration appears not to be very advanced in retail banking

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