Low ECB rates to stay, banks should merge: de Guindos
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LONDON (Reuters) - European Central Bank interest rates are likely to stay low for a long time and banks in the euro area should consolidate and step up efforts to improve profitability, ECB Vice-President Luis de Guindos said on Wednesday. "The low interest rate environment is with us for the foreseeable future and is caused in large part by durable structural factors," de Guindos told an event in London. "Even once monetary policy normalises, interest rates are likely to remain below levels..