Markets may have been calmed by the announcement of the EU’s bailout plans last weekend, but the proposal to raise up to €440 billion of additional funding through the capital markets has led to a flurry of activity and speculation among EC officials, sovereign borrowers, rating agencies and investment bankers.
Details on how the money will be raised, when and by what entity are remarkably scarce.
“We really have no idea what is going on,” says the head of borrowing at one large European SSA.
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