Post by European Central Bank

A true Single Market is key for a more competitive EU banking sector.   That’s why we’re calling for synchronised progress on key elements of the banking union through new proposals to simplify financial regulation.   The proposals come in response to the European Commission’s public consultation on competitiveness and have been endorsed by all euro area central banks.   Strong banks are the foundation of Europe’s long-term growth and competitiveness – especially in today’s uncertain environment.   Competitiveness comes from integration and scale, not deregulation. But unnecessary complexity and cross-country fragmentation still hold banks back. Capital and liquidity must flow freely across the euro area, while a harmonised European Deposit Insurance Scheme would ensure that all deposits are protected equally, wherever they are held. Want to learn more? The link to the press release is in the comments 👇