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The massive restructuring of European banks will be positive in the end, the head of Italy's main stock exchange told CNBC, on the day that Italian lender Banca Monte dei Paschi unveiled its new turnaround plan.
However, Raffaele Jerusalmi, CEO of Borsa Italiana, also warned that the financial industry needed to strike the right balance between restructuring and regulation.
"In general, what is happening in terms of the restructuring that we are seeing in the banking sector all over Europe is going to be positive in the end," he told CNBC.
"But there is still a risk of over-regulation — we have to be careful. Some of the new rules of Basel III, I'm not sure are going to be the ones that are going to be the best for the industry going forward."
(Read more: EU demands tougher Monte Paschi restructuring plan)
Europe's banks have been under pressure to meet the tough capital requirements of Basel III — a set of banking reform measures due to be implemented in 2019.
Last month, a report by the region's banking regulator, the European Banking Authority, said Europe's largest banks will need to find an extra 70.4 billion euros ($95 billion) of capital to comply with the rules.
(Read more: Europe's banks face $95 billion funding shortfall)
Jerusalmi's comments came ahead of the details of Monte Paschi's restructuring plan, which were released by the bank later on Monday.
Monte Paschi announced plans to repay around 3 billion euros of its state bailout next year, with full payment by 2017, according to Reuters. The bank expects the EU Commission to approve the restructuring by mid-November, and hopes it will be enough to secure approval for much-needed state aid, after the euro zone crisis brought it close to collapse.
Although Monte Paschi's announcement came after the European market close, the news that its board was meeting to finalize the restructuring plan was enough to send shares rallying. Stock of Monte Paschi closed around 6.3 percent higher and was the top gainer on the Euro Stoxx 600.
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