But groups that are present in almost every EU Member State are still a very rare phenomenon. I do not interpret these results as some kind of indication that integration would have failed in Europe. In that respect, I find it very instructive to look at what happened in the US over the past decade or so.
In the mid nineties, the restrictions on interstate banking were significantly loosened in the US. But banks did not rush to set up branches all over the country; on the contrary, they preferred to expand in neighbouring states. US banks that choose to operate on a national basis also continue to be rare.