Western Europe

Spain: Legislators in Catalonia elected Carles Puigdemont, who has been pushing for independence for the big Spanish region for years, as president on January 10.

Capital Markets | Fixed Income
A bail-in provision, which places the onus on bondholders and other investors to write down their holdings in the event of winding up a troubled financial institution within the European Union, came into effect on January 1, 2016.

The foundations for economic recovery have been laid by Matteo Renzi’s government, which is tackling fundamental issues at the heart of Italy’s problems. But he has yet to work his magic on public spending.

Taxation | Capital Markets
In December 2015, 10 European Union members agreed on key aspects of a harmonized financial transaction tax (FTT).

Traditional banks are pulling back from lending to small and midsize businesses. Just as happened in the US, funds are filling the void.

Management | Corporate Governance
With the enactment of the Modern Slavery Act in October, the United Kingdom has made a new addition to the growing body of compliance regulations sprouting up globally.

Iceland has recovered smartly from the worst recession in its history. Now it must keep inflation at bay—and that might require a monetary overhaul.

Belgium, the Netherlands and Luxembourg call on old and new strengths to jump-start growth.

Capital Markets | Remedial Measures
The European Commission cites four concrete steps for kick-starting the Capital Market Union

Portugal: At the beginning of October, Portugal’s Pedro Passos Coelho became the first eurozone prime minister to survive a bailout program and win reelection.

Global Finance interviews senior executives from some of the banks featured in this year’s World’s Safest Banks rankings.

Some green shoots lurk beneath the region’s raging civil wars, economic woes and political unrest.

Management | Auto Manufacturers
The Volkswagen emissions scandal, which saw the company fudge emissions tests to make its cars appear less polluting, has resulted in a new CEO appointment, the suspension of key executives and a proposed group restructure.

Capital Markets | Business Funding
In 1957, when the Treaty of Rome was signed and the European Economic Community was established, it was the first milestone in the long path toward free circulation of goods, capital, services and people among European countries.

Market Trends | Intellectual Property
A European patent regime with unitary effect and a Unitary Patent Court is set to come into force as early as 2017, making it simpler and cheaper for international corporations to defend their intellectual property rights.

A selection of winners from Global Finance’s awards program over the past year. 

Fixed Income | With this summer’s Greek debt crisis having abated somewhat and the European Central Bank (ECB) considering expanding its easy-money policies, US companies are rushing to the eurozone to issue debt at record-low interest rates.

Global Finance unveils its annual list of the best banks globally, regionally and by country. The winners have provided the best service to clients.

Global Finance’s annual evaluation of the work of the world’s central bankers found some stellar performances, and some dismal ones. The toughest challenge for many: propping up falling prices.

Executive Management | In light of a shareholders’ vote on September 22 as to whether Bank of America chief executive officer Brian Moynihan should remain chairman as well, the debate about whether the two roles should be separate rages on in the United States.