May 28, 2018 / 7:59 AM / a month ago

Banque de France to pursue efforts to spur consolidation of Europe's financial sector: Villeroy

PARIS (Reuters) - The European Central Bank’s Francois Villeroy de Galhau said on Monday it was necessary to work on eliminating regulatory obstacles that hinder banking cross-boarder mergers in Europe.

FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau in Berlin, Germany, September 23, 2016. REUTERS/Axel Schmidt/File Photo

“In 2018, we should continue to continue our efforts to encourage consolidation in the European financial sector,” Villeroy told journalists in Paris.

He added that it was crucial to complete the banking union.

Reporting by Maya Nikolaeva and Matthieu Protard; Editing by Mathieu Rosemain

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