EU sidelined without stock exchange merger

According to information released on Thursday the EU Commission wants to ban the merger between Deutsche Börse and NYSE Euronext. That would be a mistake, writes the business paper Les Echos: "Yet again the EU has followed the advice of its experts, who seek to prevent the emergence of a European giant capable of holding its own against major international competition. ... But this is a unique opportunity. If the project fails, the NYSE Euronext will try to extend its basis in other regions of the globe. That will have two consequences: firstly, Europe will be relegated once and for all to second place in this sector that controls the financial world. And secondly the Eurozone will lose its chance to create a financial centre that could serve as a counterweight to the City of London. It's high time the Commission shouldered its responsibility."

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