Euroland Municipal Bonds: New city states

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.

Case Study: Ile de France

Case Study: Aubagne

Case Study: Leipzig

Case Study: Florence

Case Study: Bologna

Case Study: Lazio

Mayor Mario Primicerio runs his city from an office block a cut above your average town hall. Visiting president Jacques Chirac of France called it “the most beautiful office in the world”. It’s the Palazzo Vecchio, the 700-year-old fortress at the heart of Florence, and it has seen many a ruling dynasty rise and fall.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access