Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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The world’s leading investment banks are likely to miss out on an expected capital markets boom in Iran as they hold off on courting potential business for fear of upsetting US regulators reluctant to accept the easing of sanctions against the country.
Ultra-low and negative yields are driving European banks to take ever-greater risks with their vast sovereign portfolios, with many selling out of their safest but low-yielding assets in order to buy riskier debt with higher returns.
Greece is hoping to lure back some of the €120bn that nervous depositors have pulled out of their bank accounts over the past few years through the creation of so-called “new money” accounts that will not be subject to capital controls.