ECB calls for insolvency and banking taxation reform
Europe would benefit from greater M&A activity in banking, European Central Bank says
The European Central Bank has called for reforms to insolvency law and taxation of the banking sector to promote greater financial sector integration.
Cross-border differences in insolvency law have hindered cross-border mergers and acquisitions in the financial sector by harming investor confidence, the ECB said in its latest report on financial integration in Europe, published on May 19. In some countries, “credit institutions might still only be subject to normal corporate insolvency
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