SSA sector seeks urgent EFSF ratification
Only ratification of the European Financial Stability Facility’s (EFSF) new powers and size will calm volatile eurozone debt markets, particularly Italian bonds, SSA bankers argued this week after the sovereign’s successful near Eu8bn auction on Thursday only halted the sell-off briefly.
"Italian paper is now at a scary parallel with where Greek, Portuguese and Irish bonds are, touching the 6% barrier a number of times," said a SSA syndicate manager.
"Italy has been hammered this week, though that has been exaggerated by a lack of liquidity. Once the new
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.