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As a wave of consolidation sweeps much larger banking markets in Europe, Portugal's banks are eyeing up potential acquisitions and merger partners. Will limited alliances provide the scope the banks need to compete on the wider European stage? Or are they natural targets for acquisitive banks in Spain and elsewhere? Margaret Popper reports.

Developing countries don't need central banks, argues Steve Hanke. They may not even need their own currencies. Argentina should lead the way by unilaterally adopting the dollar.

While Europe's states integrate, its regions come to the fore as economic actors. None is more determined to make itself noticed than the Basque Country, historically one of Europe's leading financial and industrial centres. It's part of a growing club of regions who tap international capital markets, looking for cheap funds and self-promotion. It's also a standard-bearer for the argument that euroland regions can be better credits than states. Marcus Walker reports.

Euromoney received replies from 32 economists at leading financial and economic institutions. They gave each country's economic performance for 1999 and 2000 a score out of 100. The world's fastest-growing, best-performing economy in an ideal year would score 100; the worst economy in a disastrous year would score zero. Respondents were asked to consider economic growth, monetary stability, current-account balance, budget balance, unemployment and structural imbalances. Economists also gave GNP growth forecasts for 1999 and 2000. Countries which received no votes are excluded from this table.

Euroland Municipal Bonds: New city states

Portuguese Banking: Carving out a new role

Euroland Municipal Bonds: New city states

Why did Morgan Stanley Dean Witter fly its international top brass to an urgently cobbled-together press conference in Madrid, five days after the news leaked of an acquisition so tiny in the grand scheme of its financials that the firm did not even have to report it publicly? Because the deal kicks off the European roll-out of Morgan Stanley Dean Witter's global strategy.

Portuguese Banking: Carving out a new role

A slowdown in domestic economic growth and meltdown in Russia and Brazil have put pressure on financial institutions across the Andean region. Justine Newsome examines what it will take for the banks to survive the storm.

Euroland Municipal Bonds: New city states

Portuguese Banking: Carving out a new role