Europe’s banking union should refocus on regulatory consistency and transparency, UniCredit chief executive Jean Pierre Mustier tells Euromoney, in an unusually frank recognition of the impracticality of eurozone risk sharing.
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Jean Pierre Mustier, |
Amid new rumours this week of UniCredit’s interest in taking Deutsche Bank’s place on a merger with Commerzbank, Mustier says: “The banking union will never be completed.”
Speaking to Euromoney ahead of the magazine’s official 50th anniversary edition in June, Mustier’s comments contrast with others – notably Société Générale’s chief executive Frédéric Oudéa – who hope that agreement on a European deposit insurance scheme (EDIS) could be a trigger for more cross-border mergers, after this year’s new European Parliament and European Commission.
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