European banks seeking mergers face gridlock on friendlier rules
BRUSSELS: The European Central Bank (ECB) and the lenders it oversees are running out of time in their push for rules to foster cross-border mergers.
European Union regulations need to change so consolidation makes financial sense, the ECB and firms say.
But their shared urgency has been stymied by politicians from Germany and smaller states who want to make sure closer ties don’t expose them to excessive risks from other countries.
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