As a supervisor, we take a neutral stance. We assess merger and acquisition proposals solely on technical grounds. It is for markets to decide whether or not consolidation takes place, and to what extent. Market forces should, however, not be undermined by unnecessary obstacles. While it is up to individual banks to futureproof themselves, policymakers and legislators can provide the right conditions.
Seven years after the banking union was first proposed, it is about time for a single European banking market. 1 See Mersch, Y. (2018), “Europe: a work in progress – political integration and economic convergence in  Monetary Union”. 3/3  BIS central bankers' speeches