bunq's Niknam: '100 bananas cost less than ten' — the case for one federal Europe

Key points

Key takeaways from NPO Start interview with bunq founder and CEO Ali Niknam (September 2026):

One federal Europe. Niknam calls for a federal Europe — one market, one employment contract, one legal system, ideally a European BV — arguing that scale cuts prices the way bulk buying does: 100 bananas cost less than ten, without putting redistribution under pressure.

27 systems is the problem. bunq operates in 27 countries, dealing with 27 different systems for reporting unusual transactions and 27 different tax computers; one European system would be technically simple, he says. He has moved his own operations to Sweden partly because of rigid Dutch temporary-contract rules.

Smaller, more human government. He would shrink national government — fewer rules, fewer civil servants, more discretion for civil servants to restore the human touch ('de menselijke maat'). Local government works well because it is approachable and visible, while the national level has become a noisy middle layer; he would merge provinces and national government and shrink parliament.

Government faces no competition. Unlike banks, government faces no exit threat from unhappy customers; he argues mainstream Dutch banks only started to differentiate once bunq gave customers a real choice — before that they were, in his words, 'all one pot'.

Pragmatism, not ideology. He worries about a Dutch dystopia 'where pragmatism and level-headedness are slowly replaced by ideology', citing the false correlation between migrants and grocery prices; the real fix is simpler — buy bigger, at European scale.

Reset-the-clock redesign. His thought experiment for government: reset the clock, abolish existing rules and vested interests, and re-design everything with today's knowledge; the debate should start with what society wants, not implementation details.

Europe needs self-confidence. With the US, China and India consolidating power, Europe remains divided and rule-bound; he wants a common European energy policy, strategic reserves, mass green investment on a five-year horizon, and leaders who act instead of hand-wringing about populism.

Tell the story straight. He blames anti-European sentiment on poor storytelling: most Europeans would back deeper integration if the real story were told; those with most to lose are local power-holders and geopolitical rivals investing in anti-European forces, such as those backing Germany's AfD.

Read more: NPO Start