GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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December 2001

Main

Top stories

Credit derivatives: Maturity of hot new market faces its sternest test

Will new portfolio managers save the banks this time?

Crunch time for the corporates

Mergers and acquisitions

WestLB on the trail of an elephant

Utilities

Beware of cross-border currents

Sovereign debt

Argentina's messy debt exchange

Latin America

A place in the sun remains elusive

Central America

Small but sound sovereigns attract cash-rich investors

Euro notes and coins

Euro awaits single financial market

Greece

Upgraded, yet still privatizing timidly

Islamic banking

Islamic banks tap a rich new business

Middle East

Gulf states ride out worst of the storm

US treasuries

The long goodbye

Editorial

Sovereign work-outs: a new idea

Front End

Bruce breaches Lazard fortress

Fox wows señoritas

Welcome to Me Plc

Enron Credit: Credit where credit’s due

Debt? It’s only a game

Market Monitor

Leung prompts jitters over dollar peg

Spanish investors look to the long term

Nasdaq takes Clearstream’s lead in Europe

Let the good times roll again

Unilever’s war drags on

Emerging markets

Going back to the market one more time

Gazprom leaks cause explosion

Chaos at Danareska paralyzes privatization

Enron’s distressed retreat from power project

Against the tide

The US consumer will ride to the rescue

Financial Lawyer

Insolvency lawyers hone international skills

Deal Insider

How Italy shrank its deficit

People

William Fall

Dow Kim