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UBS boss warns of European decline with ‘over-regulation across the board’

Sergio Ermotti tells FT it would take a ‘very profound and painful crisis’ to pressure politicians to take action
FT editor Roula Khalaf questions UBS chief Sergio Ermotti about bank regulation in Europe

Europe will continue to fall behind the US and Asia until a severe crisis forces politicians to act, UBS chief executive Sergio Ermotti has warned, blaming the continent’s decline on “over-regulation across the board”.

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