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  • China's pension fund to invest overseas, more power subsidies in Indonesia, foreign investors remain confident on Thailand
  • With plenty of assets and plenty of investors, Italian securitisation has a secure future. The government, which could theoretically issue almost limitless ABS, is being joined by increasingly active local authorities, struggling to cope with healthcare funding deficits. The private sector, particularly the banks, is also grasping securitisation techniques with great enthusiasm.
  • Italy has arguably the finest capital markets pedigree in Europe, having played host to the first Eurobond, the first floating rate note and the first syndicated loan. Nowadays the Italian Treasury is one of the world's biggest sovereign borrowers and therefore one of the market's most important issuers.
  • Domenico Nardelli left the Italian Treasury at the end of last year after 11 years — latterly as head of international funding and liability management. EuroWeek caught up with him in December and asked him about his life as the public face of one of the world's most prolific sovereign borrowers.
  • The call by certain politicians to ditch the euro is not the remedy for the Italian economy's malaise. Many believe Italy's rulers need to drop their resistance to change and adopt radical economic reforms. If they want to see how it is done, they need look no further than Italy's resourceful and innovative private sector banking industry. Philip Moore reports
  • Italy has twice broken the European leveraged buy-out record, with the Seat Pagine Gialle and Wind deals. But while there is no doubt of the significance of those two jumbo deals, on closer inspection the Italian market is dominated by hundreds of tiny transactions that rarely involve international banks and private equity sponsors. In between there are few mid-sized LBOs to keep the market ticking over.
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  • Household defaults in Romania, Turkish bank's IPO
  • Two members of a fund derivatives team tapped from Bank of America last year have left Societe Generale. Jason Griffiths, head of U.S. structured product sales, has joined Jeffries & Co. as co-head of equity products, and Joel Denny has joined Swiss Re as senior v.p. in the equity and equity-linked group. Messages left for Griffiths and Denny were not returned, and Jim Galvin, spokesman at SG, did not return phone calls by press time.
  • Players who lost money on Cendant credit-default swaps last week, when the company announced it would not guarantee debt at recently spun off unit Avis, have been trying to get lenders to persuade the company to change the decision. Traders said it's unusual but not unprecedented for hedge funds and asset managers on the losing end of CDS trades to get a company to change terms. But, it looks like this attempt is doomed: in a conference call yesterday the company re-affirmed the plan.
  • Rural China, India's state banks demand interest subsidy, Taiwans' banks rake in profits from abroad
  • Losses at Slovakian central bank, Albanian savings in Greece