© Reuters. Andrea Enria, chairperson of the European Banking Authority, speaks at Reuters Summit interview in London

FLORENCE (Reuters) – The European Central Bank’s top watchdog said on Friday the euro zone needed to favor mergers of banking groups in the bloc.

“We need to deploy policies to restore and improve the integration of our banking markets to favor consolidation and also cross-border consolidation, possibly of banks,” Andrea Enria told a conference in Florence.

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