This article from The Economist touches on this topic. “Banks cannot use deposits in one country to lend in another, because national regulators do not want to

This article from The Economist touches on this topic. “Banks cannot use deposits in one country to lend in another, because national regulators do not want to be on the hook for loans to improvident foreigners. An eu-wide deposit-guarantee scheme would allay that fear, but has yet to be agreed.” https://www.economist.com/briefing/2019/01/05/the-euro-enters-its-third-decade-in-need-of-reform https://www.economist.com/briefing/2019/01/05/the-euro-enter...