A merger between our ‘Big Two’ banks may soon be necessary

Banking is set to become a more competitive business than ever. At its core is dealing in money – deposited by those who have it, and lent out to those who need it.

But the only difference between one bundle of euro and another is the duration and price at which they can be deposited, or the price and terms on which they can be lent – or exchanged for another currency. When ...