The takeover of the German bank Commerzbank by the Italian bank Unicredit would constitute “an operation that would take place within the banking union” in the euro area, noted the Chair of the Single Resolution Board (SRB), Dominique Laboureix, on Monday 23 September at the European Parliament.
Mr Laboureix also noted that the two banks in question, by virtue of their size, are already subject to the same single banking supervision and resolution authorities. We know them well because...