Owen Walker, the Financial Times' European banking correspondent, dives into UniCredit's recent acquisition of a 9% stake in Commerzbank. He discusses the potential for a transformative merger that could bolster European banking competitiveness. The conversation uncovers the resistance to cross-border deals, revealing a patchwork of national interests and political challenges. Walker emphasizes the strategic implications of this move and its potential to reshape the banking landscape in Europe, while also navigating the cautious outlook on large-scale mergers.