'Europe needs bigger, stronger banks to back economy' -Orcel

(ANSA) - ROME, OCT 1 - UniCredit CEO Andrea Orcel on Tuesday said Europe needs "bigger, stronger banks to support the economy", speaking at the Made in Italy summit 'New market, global trade shift' organized by Sole 24 Ore, the Financial Times and SkyTg24.
    "Without pan-European champions", Europe will "not overcome the challenges highlighted by Mario Draghi and by many other leaders before him", said Orcel.
    In his speech, the UniCredit CEO also said a banking union was not enough for Europe which also "needs a Union of financial markets". (ANSA).