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Economist warns small building societies about European predators

A City economist has warned the Building Societies Association conference that if the UK joins the euro, smaller mutuals could be swallowed up by European banks.


Capital Economics managing director Roger Bootle said the threat &#34is likey to come from in the form of keen interest from continental institutions in forming associations with them or wanting to take them over&#34.


He said smaller and mid-sized players are most at risk but larger organisations will continue to thrive.

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