>> It is very short-sighted of these banks.
>>
It's not short-sightedness, it's the law. Without the effective licence to operate in specific territories the bank would be operating illegally and each country requires a separate licence and the process costs a fortune.
About 15 years ago, whilst in the EU, my employer tried to get a specialist licence for Italy - for a derivate of banking. The legal fees alone were over £1m!
Last edited by: zippy on Tue 15 Dec 20 at 13:28
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