"On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States"
- Robert C. Solomon
About this Quote
This quote by Robert C. Solomon highlights the distinction between the monetary systems of the United States and Euroland. In Europe, banks are a lot more associated with financial deals than in the United States. This implies that banks in Europe are more likely to be involved in private transactions, such as loans, financial investments, and other financial services. In the United States, however, banks are less most likely to be associated with private deals, and individuals and services are most likely to rely on other sources of financing. This difference in the monetary systems of the 2 areas can have a substantial influence on the way individuals and companies access and usage financial services.
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