Euromoney March 1999
After months of frustration, the foreign banks negotiating repayment of Russian debt are as divided among themselves as they are against the Russian government. Deutsche Bank's decision to accept the latest offer while leading a 19-bank committee still fighting over terms has caused uproar. Individual banks now have to decide whether to follow Deutsche's example or take legal action in a last-ditch attempt to recover some of the $40 billion in rouble debt on which the government defaulted last August. Jack Dyson reports.
Euromoney March 1999
No single benchmark yield curve has emerged for the euro. So there is some confusion about how Eurobond issues should be priced. That anomaly raises deeper questions about how government debt and its derivatives will trade in future and which electronic platform will grab the lion's share. David Shirreff reports.
Euromoney March 1999
How best to track performance in the European bond markets is hotly debated by the region's bond-trading firms. There will be rich rewards for the index compilers that come out on top in euroland. But defining the market to meet investors' needs is proving a challenge. Peter Lee reports.
Euromoney March 1999
There is a growing backlash - academic and political - against privatization. Influential figures have even argued for re-nationalization. But given the wealth of evidence in favour of privatization, this would be a disaster, argues James Smalhout.
Euromoney March 1999
Antipathy between the Inter-American Development Bank's biggest shareholders -Brazil and the US - is long-standing. But when Brazil faced financial ruin they struck a new deal: the IDB can now fund IMF-style emergency lending programmes, and turn its soft-currency reserves into concessionary loans. But the bank's smaller members resent how the deal was done, and it has stoked up political and ideological differences among the staff. Brian Caplen reports.
Euromoney March 1999
A slowdown in domestic economic growth and meltdown in Russia and Brazil have put pressure on financial institutions across the Andean region. Justine Newsome examines what it will take for the banks to survive the storm.
Euromoney March 1999
As Brazil picks up the pieces after its currency devaluation, it needs to fight off spiralling inflation and recession. The country's ability to regain investor confidence is crucial to the whole of Latin America. Jonathan Wheatley reports
Euromoney March 1999
The euro is expected to speed the growth of a US-style market in local-authority bonds. In euroland, nations now matter less: cities and regions are becoming economic and financial actors in their own right. Banks are fighting hard to woo them as clients. But would-be investors aren't happy with the poor liquidity. What does this fast-growing market need to succeed? Marcus Walker reports.
Euromoney March 1999
While Europe's states integrate, its regions come to the fore as economic actors. None is more determined to make itself noticed than the Basque Country, historically one of Europe's leading financial and industrial centres. It's part of a growing club of regions who tap international capital markets, looking for cheap funds and self-promotion. It's also a standard-bearer for the argument that euroland regions can be better credits than states. Marcus Walker reports.
Euromoney March 1999
The launch of the euro seems to have strengthened German banks' competitive advantage, rather than undermining it as some had expected. Despite increased competition, the capital market is going from strength to strength. And feeding on this growth is Frankfurt - home to the European Central Bank - fast becoming the financial epicentre of euroland. Is this all too good to last? Laura Covill reports.
Euromoney March 1999
The Nordic region, with its concentration of internationally recognized corporates, prosperous retail markets and developed capital markets, is an attractive prize. The race to become the regional powerhouse is on. Euan Hagger reports.
Euromoney March 1999
As a wave of consolidation sweeps much larger banking markets in Europe, Portugal's banks are eyeing up potential acquisitions and merger partners. Will limited alliances provide the scope the banks need to compete on the wider European stage? Or are they natural targets for acquisitive banks in Spain and elsewhere? Margaret Popper reports.
Euromoney March 1999
Fixed-income investors are piling into Hungary, gambling that interest rates will fall as it prepares for accession to the European Union. But is their enthusiasm justified? Charles Olivier reports.
Euromoney March 1999
Developing countries don't need central banks, argues Steve Hanke. They may not even need their own currencies. Argentina should lead the way by unilaterally adopting the dollar.
Euromoney March 1999
