An excessive number of M&As may result in a reduction of market competition, in lack of diversity in insurance coverage, and may eventually feed the never dormant “too big to fail” issue. 2  ESRB, Macroprudential policy issues arising from low interest rates and structural changes in the EU financial system. November 2016. 6  Is proportionality a solution?
Let me finally make a few remarks on the global financial situation and the lessons we can draw from this. We are currently experiencing an extraordinary and very challenging period, characterised by severe financial market turmoil that originated in advanced economies. Recently, the tensions in the financial sector have spilled over into the real economy and have dampened significantly global growth.