Salient to Investors:
Goldman Sachs turned down roles in offerings by banks in Spain and Italy in 2012, the only top US securities firm to avoid the fundraisings by southern European lenders.
Last month, Gary Cohn at Goldman saw only a small probability that the euro area will stick together, and Goldman equity strategists warned investors of companies that rely on southern Europe. Cohn recently said the ECB pledge of unlimited support for debt-burdened nations in exchange for reforms hasn’t addressed the lack of growth that plagues the region.
Lloyd Blankfein at Goldman said growth issues are still holding back the Euro region.
Christopher Wheeler at Mediobanca said Goldman’s market position will allow it to return to those clients if it chooses.
Read the full article at http://www.bloomberg.com/news/2012-11-26/goldman-sachs-turns-down-southern-europe-banks-as-crisis-lingers.html