Pagano, Marco; Langfield, Sam; Acharya, Viral V.; Boot, … - 2014
. Third, large universal banks - which perform a wide range of banking services, and are peculiarly common in Europe …Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its … banks (rather than securities markets), which results in excessively volatile credit creation and lower economic growth …