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EU countries divided on need for cross-border banking, financial services mergers

By Jean Comte ( June 4, 2024, 12:06 GMT | Insight) -- A request by the European Commission for ideas to tackle the lack of cross-border consolidation for banks and financial services has been criticized by many countries, according to documents seen by MLex. They fear a lack of competition, an increase in systemic banking risk, and also a takeover of their national lender by bigger institutions, such those based in France.EU member states don't agree on whether more cross-border consolidation is needed in the field of banks and financial infrastructure, according to documents seen by MLex....

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