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There is not a single country in the world where largest bank is not a bank based in that country. Like money, data is something sovereign nations want to control.

EU, China and India all have areas where they want US based firms to store data in a specific way. This isn't changing anytime soon.

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BCR and BRD, the largest Romanian banks, are owned by Austria and France.

I'd be shocked if most big banks in Eastern Europe are owned locally.

The opposite of what you're saying is true for almost every average or small country, economically.

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