The lenders of the Old Continent will make it. Word of Federico Ghizzoni, CEO of Unicredit. The number one from Piazza Cordusio refers to the stress tests planned in view of the single supervision by the European Central Bank.
Ghizzoni thinks that "the European banking sector will play a fundamental role in supporting our economy", even if "it will no longer be able to provide credit with the same intensity as in the past" due to the new rules on capital, liquidity and leverage imposed by Basel3.
Europe, due to the crisis but also to macroeconomic changes, “is losing weight on a global scale and this will also have consequences on the banking business, comments the CEO of Unicredit. “Faced with the growth of emerging markets – he continued – there are risks of consolidation and even acquisitions by banking groups in these countries”. Ghizzoni recalled how, according to the latest projections, Asia will overtake the European Union in 2025 as a world trading partner with a share of international trade of 12% against 14% in 2012 and 16% in 2003 while Asia will increase to 31% against 22% in 2012 and 18% in 2003.
Ghizzoni also spoke on Unicredit. When asked if the institute was interested in buying Commerzbank, he answered with a resounding no. Meanwhile, in Piazza Affari the stock loses almost 3%.
