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Enron Mail |
I am visiting Haas this year and will be teaching 'European Financial
Markets' (BA 296-7, E 296-5) in the spring. Since this is a new course, I thought I should draw it to your attention. The move to monetary union (EMU) in Europe has created a newly integrated financial area comparable to the US, with consequences that anyone doing business or advising businesses in Europe needs to understand. Just consider: 'The dollar's supremacy has been challenged in the global debt markets.' (FT, 6/14/99). 'The large funds have indulged in a frenzy of cross-border buying...with the volume of paper launched by European companies rising five-fold over 1998.' (FT 10/28/99) '...a doubling of European-based staff at Lehman Brothers, a 50% increase at SSB, and up to 20% at other banks...follows Europe overtaking the US in M&A activity...' (FT 10/25/99) I shall address questions such as: How does the European Central Bank differ from the Fed? Will the euro compete with the dollar as an international currency? Can European capital markets challenge the US for international portfolio managers and for non-European issuers? Will Europe soon have serious venture capital and junk bond sectors? Will the European banking sector experience a deep wave of cross-border restructurings? Will there be a shift from domestic to cross-border M&A in Europe - and will competition authorities try to restrain it? How will the East European emerging markets fit into the picture? If these issues interest you, I look forward to seeing you in January. -- Richard Portes Distinguished Global Visiting Professor Haas School of Business University of California at Berkeley Berkeley CA 94720-1900 Email: portes@haas.berkeley.edu Tel. 1 510 642 8032 Fax 1 510 642 4700 (on leave from London Business School, 1999-2000)
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