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The chairman of the euro zone's finance ministers, Kyriakos Pierrakakis, emphasized the necessity for larger European banks to effectively compete with major financial institutions in the U.S. and China, arguing for cross-border mergers and a unified EU financial market to enhance technological investments and market supervision. #EuropeanBanking #FinancialIntegration #TechInvestment #EU #DE #IT #US #CN #LU #IE
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Europe needs bigger banks to compete with US, China, Eurogroup chairman says
BRUSSELS, May 5 (Reuters) - The European Union needs its banks to be bigger if they are to compete with their counterparts in the United States and China, the chairman of the euro zone's finance ministers' group said on Tuesday.