Greece: The cost of abandoning equal treatment

Greece: The cost of abandoning equal treatment

The Institute of International Finance’s principles for stable capital flows and fair debt restructuring set forth an approach to voluntary negotiations between distressed borrowers and their creditors based on transparency, dialogue, good-faith negotiations and equal treatment.


Dwindling M&A to be boosted by restructuring

While transformational big-bank mergers remain on hold, Euromoney learns that lots of small deals for FIG bankers will boost M&A activity

Greek state-owned assets: for sale, one careful owner?

Greece has hired outside help to energize its faltering privatization programme. Euromoney talks to the man tasked with selling Greek assets to the world


Single-family homes: the new US real-estate asset class

Analysts tell Euromoney that the model of buying real estate owned (REOs) to rentals is suited to the single-family home market and could become an asset class

S&P downgrade is nail in the coffin for EFSF

Agency's action could deliver final blow to the struggling bailout fund


Senior secured bondholders flex their voting-right muscles in workout negotiations

Euromoney takes a look at how the days of high-yield bonds routinely ranking subordinate to bank loans have come to an end

Limited liquidity forces bond funds into CDS

A lack of supply is creating a shift in investment approaches, with CDS-index strategies being mainly explored


EU cash markets: over-broked and lack liquidity

European cash market problems are catalysed by lack of transparency, says senior credit flow trading expert

Funding: A Talf for Europe

ECB lets banks delever in orderly fashion; Bank bond issues might be scarce this year


IMF: Financial fragilities and deterioration catalyses eurozone crisis

The International Monetary Fund has unveiled a cripplingly bearish set of reports that reveals widespread financial deterioration, dimmed growth prospects and escalated downside risks are to continue in 2012. Bank funding and losses cause the most concern.

FX survey 2012 is now open - vote now

Please help make Euromoney's 34th annual survey of the world's foreign exchange markets the most authoritative and comprehensive ranking possible.


Russia: Making money in Moscow

With developed markets stagnant, emerging nations hold the globe’s growth prospects. But can expansion in investment banking revenue in Russia keep up with Brazil or China?

Macaskill on markets: An unhappy new year for corporate activity

Banks face tough decisions on how hard they should fight to retain sales and trading market share in different sectors, as the great deleveraging drive of 2012 gets under way.


Pioneer Yunus promotes a social business network: Muhammad Yunus video interview

In a society obsessed with maximizing profit, Muhammad Yunus, Nobel Peace Prize winner and pioneer of microfinance through Grameen Bank in Bangladesh, has a new goal: to get business and finance to take off its ‘profit-maximizing glasses’ and think about its role in society instead

The investment banks of the future

The era of global investment banking is coming to an end. But financial trade involving and between developing markets will continue to grow. This gives a once-in-a-lifetime opportunity to firms based in those markets to build not just leading domestic franchises but also ones that can compete on a much broader scale. Which emerging market investment banks are best placed to take it?


Investment banking league tables - Year End 2011

Includes Bonds, Equities, Loans, M&A, MTN, Project Finance


Polls and Awards

Euromoney Trade Finance survey 2012: Trade not getting the credit

January 2012

The shadow of economic gloom has fallen over output, while Basle III is playing havoc with the rulebook for funding. Success relies on access to US dollars, and losses will drive up prices – unless the rules can be changed or new players join the market


Best managed companies in Asia 2012: China Telecom improves

January 2012


Global Cities survey 2011: Results index

November 2011


Best Middle East research house survey 2011

November 2011


Best managed companies in the Middle East 2011: Transparency key to success

November 2011

In a region traditionally renowned for its political and economic opacity, companies with a deep understanding of their customers and good corporate governance top Euromoney’s survey of the best-managed companies in the Middle East this year. Kanika Saigal reports.


Credit trading survey 2011: Elite trio breaks away from the pack

October 2011

Euromoney’s inaugural credit survey confirms the broad market power of three elite fixed-income houses, and points to a widening gulf between the haves and have-nots of the global credit markets. Joti Mangat reports.


Cash management survey 2011: Cash gets central billing

October 2011

As corporate executives make cash management an increasingly important part of their treasury function, so transaction banks are realigning their businesses. Now it is increasingly part of the overall corporate relationship. Laurence Neville looks at the models the leading banks are adopting.


Euromoney Country Risk September 2011 Results: Emerging sovereigns converge with the US, UK and France

September 2011

In the latest results of Euromoney’s country risk survey, Taiwan and Chile are rated alongside developed markets France, the US and UK. Qatar shrugs off regional uncertainty, while country risk scores across the eurozone hit new lows. African sovereigns have also done well. Andrew Mortimer reports.


Central bank governor of the year 2011: Zhou stays firm amid China’s challenges

September 2011


Finance minister of the year 2011: Swan confounds his domestic sceptics

September 2011

Australia has struck it rich, and lucky, as it has used its natural resources to benefit from the China spending boom. But the careful stewardship of its treasurer, Wayne Swan, has played a key role in making it the best-performing economy among the world’s richer, developed nations. Not that he is likely to get much credit at home, as Eric Ellis reports.


Real estate survey 2011: Results index

September 2011


Fixed income research survey: The analysts the biggest funds rely on

August 2011

As the sovereign debt crisis grinds on, the world’s top credit analysts are having to adapt to the needs of their firms’ biggest clients. Valentina Zarya reports.


Awards for Excellence 2011

July 2011


Best Primary debt house survey 2011: Results index

June 2011

The world’s largest borrowers in the international bond markets rate the products and services offered by the biggest deal arrangers. Who's best at pricing and distribution, team coverage, secondary market support and issuer research? Find out here.


Euromoney Country Risk June 2011 results: MENA and Eurozone slide in global rankings

June 2011

Country risk rankings are dropping sharply in the Eurozone periphery and across the entire Middle East, including Qatar which had been viewed as relatively immune to the fallout from the Arab Spring. Andrew Mortimer reports.


Best borrowers 2011: A triumph for transparency

June 2011

Bond investors no longer put blind faith in top credit ratings – even the safest-seeming borrowers can expect searching questions. So the openness of such issuers as the Spanish sovereign has paid big dividends. It is a lesson even the most successful issuers are learning. Philip Moore reports.


Best fixed income research house 2011: Results index

June 2011

Institutional investors tell us which analysts have made the best calls in the past 12 months. An invaluable guide to investors looking to diversify their European portfolios.


Euromoney best-managed companies in Central and Eastern Europe 2011: CEZ heads a diverse field

May 2011

Power, mining and energy companies dominate Euromoney’s annual survey of the best companies in CEE, but diversity is increasing as markets mature


Euromoney FX survey 2011: Buy side excited by multiple choice

May 2011

The dominance of the top-three FX banks is being challenged by the chasing pack of dealers. It isn’t just a case of luring clients onto their internal trading platforms. Clients want different things, and multi-dealer exchanges are beginning to prosper. Tom Osborn reports.


Best Managed Companies in Latin America 2011: The price of success

March 2011

International investor interest in Latin America has intensified scrutiny of the corporate governance and investor relations of companies in the region. Big companies such as Vale, Petrobras and bank BBVA have responded remarkably well to this scrutiny. Rob Dwyer reports.


ECR: Country risk March 2011 – Middle East drops, sub-Saharan Africa rises

February 2011

Euromoney’s latest country risk results reflect political turmoil in the Middle East and the continued uncertainty within the Eurozone. The global recovery is in serious danger of being undermined by a host of financial and political risks. Andrew Mortimer reports.


Private Banking and Wealth Management Survey 2011: Private banks rebuild trust and sharpen their focus

February 2011

Credit Suisse retained its position at the top of the global rankings in Euromoney’s latest private banking survey. But market share is hard fought for as firms seek out key opportunities in emerging markets and among ultra-high-net-worth clients. Helen Avery reports.


Deals of the year 2010: Riding the rollercoaster

February 2011

The capital markets experienced peaks and trough in 2010. The first quarter saw Greece descending into chaos, the second an EU bailout solution, then relative calm before the bond markets took Ireland down. Deal volumes were down but the year’s top deals set some defining trends. Hamish Risk and Peter Lee report.


Islamic finance awards 2011: Results

February 2011



If there’s one thing I learned from being treasurer of Morgan Stanley it is never to buy structured products from derivatives people

Brad Hintz, senior analyst at Sanford Bernstein and once a senior finance official at both Stanley and Lehman, gives a caveat emptor from a former vendor’s perspective