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The last privatization supper

Jean-Claude Komarovsky resists the temptation to retrieve some of the family silver from the Russians. Especially while there are plenty of Americans willing to get their fingers burnt.

February 01, 1996

Russia: Piling high to meet the quota

Russian privatization has been rapid and controversial. Transfers to banks of stakes in the country's largest businesses have sparked a furious debate about the terms of the deals and whether or not the banks are improving management. But instead of changing tack, the government has been pushing ahead before the political climate changes. Vindicating its quick approach has been the much quieter and more successful sell-off of thousands of smaller companies.

February 01, 1996

Country profiles: Lessons in privatization

Despite difficult market conditions, there were significant privatization successes in 1995. In general, privatizers were more circumspect in their approach to the pricing, sizing, placement and timing of offers. Euromoney journalists report on six countries' efforts in difficult markets, and their future plans - followed by a list of major planned privatizations.

February 01, 1996

Corruption: Stealing the family silver

From mafia ties and drug trafficking to bribery and insider dealing, allegations of corruption have tainted numerous privatizations around the world. As governments, bankers and investors are learning, to create stable market economies it is necessary to do more than shift assets out of governments' hands. The process also needs transparent procedures to monitor into whose hands they fall - and to determine who reaps the benefits. Michelle Celarier reports.

February 01, 1996

People: The privatization club

They are politicians, bankers, bureaucrats and academics. They range from British cabinet ministers, to Hungarian lawyers, to Wall Street investment bankers. But the number of individuals who have had a decisive influence on the course of world privatization since 1980 is surprisingly limited. Steven Irvine and other Euromoney journalists pick out 14 stars of privatization and visit its spiritual home, NM Rothschild.

February 01, 1996

Pfandbriefe market: Can a jumbo give birth to a baby?

Optimists believe the new market in jumbo Pfandbriefe could become sophisticated, liquid and efficient enough to be regarded as a kind of baby Bund. Pessimists think overcoming image problems in the eyes of international investors will prove too difficult. Philip Moore reports.

January 01, 1996

Japan back on track

After five years of prolonged slump, 1996 may be the year when things in Japan get moving again.

January 01, 1996

Opinion

Front end

Banking's real climbers, CSFB's football field, Rich man, poor man, Australian elephant, The Euro-Euro

January 01, 1996

Let them drink champagne

Hôtel du Front Populaire (ci-devant Crillon), 10 Place de la Révolution (ci-devant Concorde), 75008 Paris, France.

January 01, 1996

Australia: The party's over for Australian banks

Despite record profits, Australian banks face difficulties in the year ahead. Albert Smith looks at how the four major banks are positioned to handle a radical shake-up of the banking industry.

January 01, 1996

Egypt: Reviving an old institution

Like many old bourses in emerging markets, the one in Cairo creaks a bit. Transforming it into a smooth-running, well-oiled machine will require changing attitudes as well as systems. But the need to attract foreign and domestic money to the corporate sector will probably ensure it comes right in the end. Nigel Ash reports.

January 01, 1996

Central Europe: the markets move on

No fast track but getting there. The success of central Europe's emergence depends on the region's ability to maintain coherent, long-term economic and social reforms. But the past five years have produced a mixed bag of results, as Jules Stewart reports.

Jules Stewart, January 01, 1996

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