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Royal Bank of Scotland triumphs. Garanti goes consumer. Simon Brady, David Shirreff

The imposition of forced administration on Investicni a postovni banka, the Czech Republic's third-largest bank, on June 16 and the bank's immediate takeover by Ceskoslovenska Obchodni Banka, is significant far beyond the change it brings to the Czech banking sector. It also represents a milestone in Czech politics, as the last major bastion of cronyism between banks and politicians and political parties has come crashing down.

Tom Weisel Partners

Deutsche Bank

Hungary's financial markets have rebounded from Russia's August 1998 Financial meltdown but for many local investors the nightmare will continue until 2006. Last month the Investor Protection Fund started to compensate the clients of bankrupt London Bróker, whose activities had been suspended almost a year ago. But since the Protection Fund does not have the money to pay the Ft2.4 billion ($8.9 million) in losses to thousands of small investors, it must spread the payments over the next five to six years.

Salomon Smith Barney

More than 2,000 years after Julius Caesar's death, his followers still place flowers on an undistinguished earthy mound in the historic Roman Forum, presumed to be the dictator's grave. Such is the reverence for strong leaders in Italy that the occasional barbaric act - tossing Christians to lions, killing the children and raping the wives of enemies - can be overlooked in reaching judgement on their worthiness. "Had you rather Caesar were living and die all slaves, than that Caesar were dead, to live all free men?" was how Brutus posed the question of the great man's murder to the general populace in Shakespeare's play.

Author: Chris Cockerill

Managing director, nCoTec

Managing partner, European Digital Partners

Local banks are now in foreign hands. Farewell to the domestic bank! Deutsche Bank has transformed itself. Morgan Stanley Dean Witter builds on its successful franchise. BSCH flies the flag for the Spanish. Ben Beasley-Murray, Simon Brady, Brian Caplen, Chris Cockerill, Antony Currie, Anja Helk, Peter Lee, Julian Marshall, David Shirreff.

President, Island