(Bloomberg) -- Europe is over-banked and even though the European Central Bank recognizes the industry has to shrink, its own regulators aren't helping, according to Bloomberg Gadfly's Lionel Laurent. ECB pressure for a 1 billion-euro ($1.1 billion) capital increase to support Italy's largest deal since 2007 earlier this year created hurdles to completing the merger. With the financial environment already not conducive to deals, the ECB's stance adds another barrier.
To contact the reporter on this story: Lionel Laurent in London at llaurent2@bloomberg.net.
To contact the editors responsible for this story: James Boxell at jboxell@bloomberg.net, Sheldon Reback
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