Report
Why there is going to be disintermediation of corporate finance in the euro zone
Our rationale is as follows: High debt ratios will require interest rates to remain low at all maturities; This will reduce euro-zone banks’ profitability and their return on equity; These banks therefore face a long period of difficulty raising capital and taking risk; Accordingly, corporate finance is going to have to be “disintermediated†in the euro zone; Which, from a normative viewpoint, is not good news .
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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