Standardisation: fixing what isn’t broken?
Unlike the US, Europe has no unified pool of capital, but instead has a patchwork of countries with different rules. The Eurobond market managed to knit together disparate investor communities but private placements are smaller than listed Eurobonds, more bespoke, and, of course, private. Can there truly be a pan-European private debt market to rival the US? Owen Sanderson reports.
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