Southpaw: Bankers seek to unlock Europe’s M&A cash pile

Mergers and acquisitions departments in Europe expected 2010 to be a turnaround year, when the hires they made over the previous 12 months would start delivering and cash-rich corporate clients would hit the deal trail. But with the eurozone in a state of crisis, the recovery is proving elusive even though chief executives have cash to do deals. David Rothnie reports.