Tumpel-Gugerell on regulation in EU banking

In the speech 'Regulation, competition and integration in EU banking: What drives performance? - Revisiting Freiburg' given on 21 October Gertrude Tumpel-Gugerell of the ECB said there is excess capacity in the European banking sector and further consolidation is therefore likely in the industry.

"From a comparison across EU countries and with the US, it can be seen that there is probably 'excess capacity' in the European banking industry, in that there are many small banks that do not benefit

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