Word: giavazzi
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Dates: during 2000-2009
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...interesting market, which will add diversification, solidity and stability to our future results," Santander chairman Emilio Botín proclaimed. So has the predicted round of consolidation begun at last? Er, not really. "This is not the beginning of cross-border banking mergers in the euro zone," says Francesco Giavazzi, an economist at Milan's Bocconi University. If anything, Giavazzi says, Santander's move in Britain demonstrates how many barriers remain to such transnational deals. Santander had already been blocked from taking over France's Société Générale in 1999 because the bid came...
...FRANCESCO GIAVAZZI, economist, Bocconi University
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