Europe’s fragmented banking market has become a strategic vulnerability that could undermine the continent’s ability to finance its own future , according to Eurogroup President Kyriakos Pierrakakis .
“ Fragmentation is no longer only a financial inefficiency; it is a strategic vulnerability ,” Pierrakakis said in an interview with the European Central Bank’s (ECB) Supervision Newsletter.
His comments come as European policymakers seek to strengthen the banking union and savings
