Management, shareholders and regulators all seem to carry some of the blame for allowing Monte dei Paschi to acquire Antonveneta, which created uncontrollable risks for what had previously been one of Italy's more conservative banks.
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The long road to project bonds
It has proven to be a slow and laborious process getting the first credit-enhanced project bonds structured in Europe, but the first deals are finally expected in 2013.
Securitisation seeks redemption in Europe
A few short years ago, securitisation was blamed for triggering the financial crisis and was seen as the root of all evil. However, there are now signs of change, with issuers slowly beginning to reconsider the market as investor appetite returns.
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Nigeria's long road to recovery
In the years following its 2009 banking crisis, Nigeria's banks' pre-tax profits lagged in the African rankings, but figures from 2012 are expected to show a recovery.
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Will sovereigns regulate their own ratings?
The eurozone crisis has precipitated intense scrutiny of the sovereign credit rating process, but the sovereigns themselves are hardly impartial judges.