Europe Needs Bigger Banks via Mergers

Eurogroup President Kyriakos Pierrakakis called for larger European banks via cross‑border mergers to boost competitiveness.
He highlighted UniCredit’s pursuit of Germany’s Commerzbank since September 2024, noting Berlin’s rejection and potential market impact.
Pierrakakis argued European banks lag US/China in tech investment, needing bigger institutions to fund digital upgrades.
ECB supervisor Claudia Buch warned that cross‑border service provision and merger activity remain weak, limiting banking market integration.