At a financial conference on Wednesday, Christian Sewing, CEO of Deutsche Bank, stated that while European banks have to be integrated, there are barriers in the way.

According to Sewing, obstacles to cross-border transactions include an unfinished European financial union, the necessity to get things in order at home, and the significance of coordinating the cultures of any two organizations.

Consolidation, according to Sewing, will be a major issue in Europe.

source: ft.com