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The perils of bailing out Spain

It’s one thing when the eurozone rescues 6% of its GDP, but quite another when it starts propping up a further 12%. As Nicholas Spiro writes, when Spain starts to flirt with insolvency, all sorts of nasty things can happen.

  • 15 Jun 2012
Last weekend’s decision by the Spanish government to request external financial assistance is the most significant and alarming development in the two-year-old eurozone crisis. What started out as a case of gross fiscal mismanagement in a country accounting for just 2% of eurozone GDP has ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $b No of issues Share %
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1 JPMorgan 358.05 1659 8.33%
2 Citi 332.29 1407 7.73%
3 Bank of America Merrill Lynch 284.66 1219 6.62%
4 Barclays 257.19 1062 5.98%
5 HSBC 211.94 1165 4.93%

Bookrunners of All Syndicated Loans EMEA

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1 BNP Paribas 40.25 189 7.05%
2 Credit Agricole CIB 37.82 159 6.62%
3 JPMorgan 30.92 83 5.42%
4 Bank of America Merrill Lynch 26.57 82 4.65%
5 UniCredit 26.09 141 4.57%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 11.53 77 9.62%
2 Morgan Stanley 11.15 54 9.30%
3 Goldman Sachs 10.04 53 8.37%
4 Citi 8.06 63 6.72%
5 Bank of America Merrill Lynch 5.64 31 4.70%