Finance
Ermotti Says EU Bank Deals Shouldn’t Fail Over National Interest
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Europe’s banking market is in need of consolidation and narrow political preferences shouldn’t stand in the way, UBS Group AG Chief Executive Officer Sergio Ermotti said.
It would be a “very bad chapter for Europe” if a deal were to fail because of “national interest,” Ermotti said Wednesday on Bloomberg TV. He wasn’t commenting on specific situations, he said.