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How Europe’s banks can catch Wall Street again

Regulation is holding back Europe's banking sector, which should be driving towards greater union

US banks have rapidly overtaken their EU peers, who need to fight back
US banks have rapidly overtaken their EU peers, who need to fight back Photo: Getty Images

Christian Edelmann is managing partner for Europe at consultancy Oliver Wyman

Ever since the global financial crisis, European banks have been in a state of permafrost. The market value of all listed European banks today amounts to just 55% of those in the US — compared with 170% before the crisis.

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