European banks want EU to designate them a 'strategic' sector [Reuters]
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Source: Reuters
that their competitiveness and the bloc's future are at stake, according to a report published on Tuesday. The pitch by the European Banking Federation (EBF) leads a list of 45 policy recommendations that the region's top banking lobby is making ahead of European elections in June. The body's president, Christian Sewing, last year urged that banks be recognised as strategic when he called them a "key factor for European sovereignty" in his role as Deutsche Bank's (DBKGn.DE) New Tab , opens new tab chief executive. But this is the first time that banks at the European level are officially making the request for such a status. "It is essential to acknowledge the vital and strategic role of banks in Europe's transformation," Sewing said in a foreword to the 51-page report. Despite the new push by the financial sector, the European Union does not publish a list of sectors it considers strategic. Wim Mijs, CEO of the EBF, in a briefing with journalists to present the report,
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