EU watchdog highlights ‘too many banks’

Report of a FT interview with Joaquín Almunia, European Commission Competition Commissioner, July 2011. He said that Europe has too many banks and consolidation would be welcome. The EU suffered from a fragmented market, lacking an integrated payment system, which made it more difficult to compete effectively with banks from the US or China.

ESO: Background information: EU nations win a year’s reprieve on state aid http://www.europeansources.info/record/eu-nations-win-a-years-reprieve-on-state-aid/

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