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Bank chiefs see mergers of Italian, German lenders

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Italy's banks showed the largest combined capital shortfall in the ECB's review of the euro's lenders as the country struggles to emerge from its third recession in six years.

Frankfurt

COOPERATIVE banks will be at the forefront of a wave of mergers among lenders in Italy and Germany, the chief executive officers of Intesa Sanpaolo SpA and Commerzbank AG said.

"The Italian banking system will not be the same next year, I am sure there will be mergers...