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  • Few other areas of international finance have been as disaster-strewn in recent years as equity derivatives. A succession of investment banks, including UBS, NatWest, and Bankers Trust, have been spectacularly blown up. And last year there were widespread losses after a European retail boom in guaranteed products left dealers short of volatility. But still newcomers are queuing to join the market. Marcus Walker asks the elite players how they adapt and survive.
  • So you think the euro is having a rough ride? What you've seen is a deliberate devaluation strategy from the political hard core. But, because of the structural flaws in euroland the present regime won't cure the euro's inherent weakness. Expect to see the European Central Bank tending one sick patient after another, predicts Bernard Connolly.
  • Alex Seippel, Founder, the Roundstone Group
  • Another one bites the dust
  • And the winner isn't...
  • Scandinavian banks are falling over themselves to make acquisitions and take stakes in the Baltic states. What they get are brand-new, hi-tech banks with underdeveloped markets. The downside is that experienced local bankers are thin on the ground. The locals seem pleased enough by the invasion but some hint that more diversity of foreign involvement might offer a wider window on the world. Alex Mathias reports.
  • And the winner isn't...
  • Brazilian Central Bank: Why Fraga chose inflation targeting
  • No bank in Poland, it seems, wants to marry the acquisition-hungry Bank Handlowy, and the Polish treasury hasn't helped as matchmaker. But the once-proud foreign trade giant desperately needs a source of retail deposits. It missed out on Bank Pekao, and the smaller Bank Zachodni. What scraps are left that the foreigners haven't eaten? Oonagh Leighton reports
  • Czech Republic: The case of the lost decade
  • And the winner isn't...
  • Issuer: Princess Private Equity Holding