It should also be pursued, a fortiori, in the banking field, where it is crucial not only to avoid destroying value, but also to preserve public confidence in the banking system. •  Disorderly liquidations may have instead become more likely in recent years, due to several factors.
Technological progress and changing customer habits are inducing banks to downsize their branch network: a key effect of this phenomenon is the reduced appetite of banks for acquiring ailing institutions. The economic crisis is also creating “overcapacity” in the EU banking sector, which, on average, struggles to remunerate capital, further diminishing returns on mergers and acquisitions.