Since the inception of the financial crisis of 2007-09, the banking sector in Europe has been undergoing fundamental changes. Following the major fallouts of large banking groups - in particular those with excessively risky business models combined with the trillions incurred in losses and subsequent taxpayer-funded government bailouts to keep the European banking sector afloat - a wave of re-regulation was undertaken to bring back eroded market confidence and to safeguard financial stability. This led to major restructuring and waves of deleveraging with fundamental implications for the future of the European banking sector and financial intermediation.
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