Banking

‘We have to completely reset’: Emmanuel Macron wants to see consolidation among EU banks

The French president has laid out his vision for the future of the bloc’s financial institutions, but faces opposition from Germany

Emmanuel Macron: “Dealing as Europeans means you need consolidation as Europeans.”

Emmanuel Macron, the French president, has said he would be open to seeing a major French bank being taken over by an EU rival in order to spur the deeper financial integration he sees as critical for the bloc’s future prosperity.

“Dealing as Europeans means you need consolidation as Europeans,” Macron said in an interview with Bloomberg on the sidelines of the Choose France investment summit in Versailles near Paris. “We have now to open this box ...