... sheets Nonetheless, the differences in the size of the banking sector in Europe partly reflect the greater dependence on bank intermediation of the European economy, with bank credit being the main ... at consolidated level 2.3.4 Sector consolidation and the emergence of very large institutions The EU banking sector has undergone continuous consolidation (chart 2.3.13) The largest institutions ... onto the alleged degree of competition, or the lack thereof, of the sector The latter will also, and importantly, depend on the contestability of the sector, i.e the ability of new entrants to enter...