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  • By Luca M Falomo of Zini & Associates, Milan
  • Banking law update By Mira Davidovski of Salans Hertzfeld & Heilbronn
  • By Luís Domingos Morais of Marques Mendes & Associados, Lisbon
  • By Wojciech Zielinski and Agnieszka Rostek-Wawrzyniak of Salans Law Firm, Warsaw
  • By Dr Robert Furter and Dr Jürg Koeferli of Pestalozzi Lachenal Patry, Zurich
  • By Kitty Lieverse and Harold Tuinstra of Loyens & Loeff, Amsterdam
  • Market structure and trends By Dan Hanqvist of Vinge, Stockholm
  • As EU member states discussed the Prospectus Directive for the first time recently, deep divisions remained. Ecofin, the EU council of finance ministers, had preliminary discussions and set out a general strategy for reaching an agreement, but conceded that the permanent representations would have to compromise before an agreement could be thrashed out.
  • Robin Griffith and Michail Papadakis of Clifford Chance consider Europe's recent compromise on German state aid and its effect on the credit risk of special institutions