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From the mid-1990s enabling legislation and corporate issuance guaranteed a rapid take-off for Japan's securitization market. But economic recovery, recapitalization of the Japanese banks and their renewed enthusiasm for holding corporate assets may leave the market dependent on consumer finance and residential mortgage deals. This might not be enough to sustain the sector. Luciano Mondellini reports.

When the president gets tied down

When the president gets tied down

The amorphous sector challenge

E-Force One glides into the Gare du Midi, Brussels. The band strikes up buongiorno il duce and Prodi emerges from the presidential train, glowing from his triumph at the G3 summit in Bruges.

Keeping faith from bust to boom

The amorphous sector challenge

When the president gets tied down

Keeping faith from bust to boom

European equity brokers have been struggling with the challenge of shifting to sector research from country research. The big firms are going even further, with cross-sector analysis of rapidly changing industries. Luciano Mondellini reports.

There are a record number of equity offerings in the pipeline for the rest of 1999. That may seem like good news for equity capital markets bankers. But with Y2K likely to close the market early this year those deals will have to squeeze through a narrow window. Even more worrying, this year has seen a surprising number of deals turn sour. Which of the deals in the pipeline is likely to turn rotten? And which firms will be left celebrating the successes? Michael Peterson reports.

During the 1990s central European countries were taught that patience, self-discipline and the narrow road to convergence was the only way to qualify for Emu membership. It was a sign of progress when increased confidence in local currencies drove dollars and Deutschmarks off the streets of Prague, Budapest and Warsaw. That's what the European Central Bank wants them to believe. But the Czechs and Croatians now suspect that by dumping their own currencies for the euro straightaway, they can take a short cut into Emu. The ECB is desperately looking for a way to stop them. Laura Covill reports.