Oct. 24 (Bloomberg) -- European Central Bank President Jean-Claude Trichet said Europe’s model of universal banking isn’t the primary weakness of the banking system.
Asked at a panel discussion in Berlin today about proposals to split up commercial and retail banks, he said policy makers had not drawn the “full conclusions” and that universal banks “don’t seem to be necessarily the main problem.”
“What counts are the rules you have to respect fully,” Trichet said.
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