The post-crisis world will face two potentially conflicting challenges. The first one is to achieve stronger financial integration as a factor of growth. In other words, we need more “E” in EMU. Deepening financial integration is a key aspect of the economic part of EMU. Deeper cross-border banking activities, especially at the retail level, are one way of achieving this objective.
Mario Draghi: Introductory remarks at the EP’s Economic and Monetary Affairs Committee Speech by Mr Mario Draghi, President of the European Central Bank, before the European Parliament’s Economic and Monetary Affairs Committee, Brussels, 22 September 2014.