For instance, there is presently a degree of diversity among euro area countries. What I intend to argue is that we have to consolidate the gains from the euro, seize global opportunities and reduce any future risk of divergence.
The ECB (European Central Bank)’s consolidated banking data counted 14 banks and banking groups in Estonia in 2020 – half of these were foreign-controlled subsidiaries or branches. In comparison, of the roughly 1,340 banks and banking groups in Germany, only 60 are foreign-controlled. That amounts to around 4.5% of total banks.