Jose Manuel Barroso, president of the European Commission, has asked the European Banking Federation to continue its cooperation with the commission at EBF’s most recent board meeting.
The CEOs of European banks and chairmen of national banking associations who make up the Board of EBF insisted on the increasing economic significance of the banking sector.
European banks contribute some 5 percent to the GDP in the EU; represent in assets 3 percent of EU GDP; and directly employ some 3 million people throughout the EU, according to a statement issued by the board.
Employment in the banking sector has significantly increased over the last eight years, with a 7 percent overall increase in the number of bank employees between 1998 and 2005 in 16 European countries.
“Banks welcome the shift of attention to retail financial services,” said Michel Pbereau, president of the EBF. “We need to further examine the retail market to allow Europe’s citizens to fully benefit from a high quality choice of financial services, while enjoying strong consumer protection.”