From CNBC: 2024-09-25 01:08:53

UniCredit’s potential multibillion-euro merger with Commerzbank has sparked tensions in Germany, with Chancellor Olaf Scholz criticizing the move. Market observers believe UniCredit could increase profitability through efficiency, but job losses and national embarrassment loom. Former ECB chief Mario Draghi highlights the need for additional investment and a complete banking union in the EU.

Read more: German authorities caught cold by UniCredit’s swoop on Commerzbank