Still big, but more sensitive

The jumbo Pfandbrief was designed to attract international investors to what had been largely a domestic German debt instrument.

Tykac defies the checks and balances

The near-collapse of Agrobanka, the Czech Republic's fifth-ranked bank, has highlighted the aggressive activities of investment companies such as Pavel Tykac's Motoinvest.

Battle for the euro

By March 1998 Europe's biggest futures exchanges will launch the first contracts to be settled in euros.