(Alliance News) - In an interview with the Financial Times on Monday, European Central Bank Vice President Luis de Guindos expressed his opposition to the German government's resistance to UniCredit's takeover bid for Commerzbank.

According to de Guindos, 'it is very difficult for governments to claim they are in favor of the Savings and Investment Union and then say: 'No, we are against this specific transaction''.

The ECB Vice President added that 'the main problem with these types of national messages is that they undermine the credibility of the savings and investments union'.

'I would apply the general regulatory framework to this case. Our recommendation is to consider the euro area as a single jurisdiction with free movement of capital and equity and a common deposit guarantee', he told the FT.

UniCredit shares were trading up 0.8% at EUR71.04 on Monday, while Commerzbank shares remained flat at EUR36.05.

By Michele Cirulli, Alliance News reporter

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