Banks can’t dodge the EU sovereign debt crisis
Barclays Capital forecasts €971 billion of gross new issuance, or €438 billion of net new issuance, a 20% increase on 2009. Between them, Greece, Portugal and Spain’s planned issuance should make up 17% of the total amount.
That’s likely to be quite manageable for the bigger borrowers such as Germany and France, says Allegra Berman, global head of SSAs at UBS. "I think they’ll have a good year, for them access won’t be a problem."
Although the southern European issuers might be less...
