Germany’s Scholz Calls for EU to Complete Banking Integration

German Chancellor Olaf Scholz said the European Union needs to tighten integration of its banking and finance sectors to bolster a transition to green technologies.

The completion of the bloc’s efforts to create a single market for banks and capital is needed for the EU to maintain competitiveness, Scholz said Thursday in a speech to lawmakers in Berlin, reinforcing the government’s position.

“A competitive European Union of course needs the completion of the capital markets and banking union,” Scholz said ahead of talks with EU counterparts in Brussels next week. “The task now is to strengthen the single market.”

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