Is the ECB to blame for this? Could we have avoided this surge in inflation? We are responsible for price stability in the euro area over the medium-term. We have been able to achieve this objective since the euro’s inception. We know the sentiment of our fellow citizens. The latest surveys suggest that inflation is now the major economic concern of European citizens.
It is hardly surprising that consolidation continues to make headway under these conditions. But what we did not expect were the figures on future mergers: Around every tenth institution is already in the process of implementing a merger or has specific merger plans. What’s more, almost half of all banks can envisage a merger in the next five years.