Post by European Central Bank

The current debate on competitiveness is a chance to take a fresh look at banking union issues, says Supervisory Board member Sharon Donnery in an interview with Expansión.    The banking sector’s hard-earned resilience is a competitive advantage for the European economy. But harmonisation is one area where there is still plenty of room for simplification.   From a competitiveness standpoint, European banks lack scale and scalability, particularly in a digital world in which banks need to invest heavily.   For a more integrated European market, we need harmonised rules that allow banks to scale up through cross-border banking.   Read the full interview https://lnkd.in/e3p9TUGN