Greece will be forced to default and face an exit from the eurozone. That’s when the issue of contagion will rear its head again.

In a recent speech, Federal Reserve chairman Ben Bernanke delivered a paean to 21st-century central banking. But investors confronted by extreme and unorthodox policy with uncertain outcomes are returning to their own version of the gold standard.

Cleantech offers limited scope for investors; Resource-efficient conventional companies top performers

Overcapacity dogs sector; Analysts sceptical on strategy

Issuance forecast raised; Auto, esoteric bonds flourish

Goldman Sachs has a problem but so does Bank of America. In late March, the chairman of banking and markets, Andrea Orcel, departed abruptly to take up a post as co-head of UBS’s investment bank. Commentators were surprised. Orcel had been at Merrill Lynch for two decades. Hailed as one of the top rainmakers of his generation, he had recently concluded the important UniCredit rights issue, on which Merrill acted as the global coordinator.

RBS signed a memorandum of understanding last month for the sale of its cash equities, ECM and corporate finance businesses in Asia. It was signed not with a western multinational, or an Australian such as Macquarie, but with Malaysia’s CIMB.

Bolivia has mandated Bank of America Merrill Lynch and Goldman Sachs as it bids to issue its first international bond in nearly 100 years.

Sovereign taps Eurobond market; Sberbank to reopen privatization round

For a while now, I have commented that the Goldman brand is broken. Don’t forget that a lot of senior people are leaving the firm. Think: Ed Eisler, David Heller, Chris Barter and Raj Sethi. This exodus reflects the fact that investment banking is no longer much fun or extremely well paid.

Banks post strong income growth; Mass-market loans boost retail profits

BTG Pactual’s IPO, expected in April, should reopen the Brazilian equity markets and re-capitalize the investment bank ahead of an acceleration in its global expansion plans.

Four heavyweights invest; Experts react with disbelief

Pricing was the biggest problem; Execution was confusing too

It’s an article of faith in investment banking that Asia is the future. It is where the growth economies are, the dynamic young populations, and the most vibrant trends in trade and market development. But global bank HQs need to temper their expectations.

Tier 2 CoCo struggles; CS taps Swiss-franc investor base

SecondMarket launches US bank platform; SEC accuses firms of unlawful conduct

Rallying stock markets haven’t boosted M&A volumes, and for advisers’ revenues to pick up strongly they might require more bank M&A, something regulators are not keen on.

Brazil’s finance minister should prepare for a fiscal – not currency – fight.

The world needs a bank with strong backing and a proper network in the frontier markets of Africa and the Arab world.

Until the exact nature of the rules is clear, investors will continue to find hybrid bank capital a challenge.