BRUSSELS, 24 June 2016
Europe faces a continued challenge to create a future that values a diverse set of voices and sets forth policy that helps the goal to forge common social and economic progress. ESBG member savings and retail banks consider the European Union as the essential framework to generate this growth and prosperity. ESBG strongly believes in the European Project. There is no alternative to successful integration. The welfare of the European nations will depend on it.
However, the European Union should rebound after the UK referendum by favouring EU rulemaking that is more based on diversity, subsidiarity and proportionality. The financial sector needs better regulation. As regards the Banking Union as well as in other topics, the EU needs to acknowledge the diverse nature of Europe’s banking landscape in which most banking services in Europe are locally based, retail-oriented and service the real economy – households, local authorities and SMEs alike.
Note to editor:
ESBG brings together nearly 1000 savings and retail banks in 20 European countries that believe in a common identity for European policies. ESBG members represent one of the largest European retail banking networks, comprising one-third of the retail banking market in Europe, with 190 million customers, more than 60,000 outlets, total assets of €7.1 trillion, non-bank deposits of €3.5 trillion, and non-bank loans of €3.7 trillion. ESBG members come together to agree on and promote common positions on relevant regulatory or supervisory matters. Learn more about ESBG at www.wsbi-esbg.org.