The case for local banks

In the video below professor Richard Werner explains why local, small banks are important for a stable and prosperous economy.

Professor Werner argues that highly centralized, big banks favour big firms because that is most profitable for them. On the other hand small, locally rooted banks have more eyes for the need of the local economy and small firms.

Maybe it is an idea that banking licenses should only be valid in a small region instead of in the entire country.