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...For anyone with an interest in the subject, Makoff’s book is a scrupulously fair and comprehensive look at the trial of the century for sovereign debt — even if general readers might struggle to enjoy the...
...The moves by Apollo and competitors including KKR and Brookfield have spurred a wave of consolidation and partnerships....
...She quotes Barry Eichengreen, one of the authors of the report, as saying “we don’t have a clear sense of whether a little less fiscal consolidation . . . might have been equally good or better”....
...soumaya.keynes@ft.com Follow Soumaya Keynes with myFT and on X Letter in response to this article: Why Jamaica’s fiscal consolidation was the wrong choice / From Peter Doyle, Washington, DC, US...
...There is little room for consolidation or growth through acquisitions. Excess cash has to go somewhere, other than back to shareholders or paying down debts....
...Mondi’s offer valued DS Smith at roughly £6.2bn, including debt....
...The industry is expecting widespread consolidation but this has not taken place yet....
...Schmelzing — have been amassing global data on interest rates and inflation since 1311, five decades after Venice started to issue so-called “consols”, arguably the first example of long-term sovereign debt...
...For much of this century, the Italian telecommunications group TIM was often considered an underperforming company....
...In addition to their morale-building effect, such cases may help to illuminate the economic and political conditions that facilitate debt consolidation. Jamaica is such a case....
...Martin Wolf correctly identifies the importance of political will to reduce financial deficits and build meaningful buffers (“The tree of debt must stop growing”, Opinion, April 10)....
...That means consolidation is coming, with opportunities for distressed investors....
...As Sonenscher notes, the key reason why 18th-century European kings issued debt to pay for military adventures was to circumvent the scrutiny of legislatures....
...As BNP Paribas economist Guillaume Derrien told FTAV: Renewed political stability and sharp fiscal consolidation is making Greece a much more attractive country for investment than in the past....
...Kant criticises the ease with which states contract debt for the purpose of funding war....
...“Just like in the United States in the 19th century, it is clear that we cannot rely on our existing framework to finance this investment.”...
...Bold calls, such as on Chinese real estate and Lebanese sovereign debt, have proved contrarian for the wrong reasons....
...“Decisive fiscal consolidation efforts are needed to safeguard sustainable public finances and rebuild fiscal buffers in a context of elevated public debt, slowing medium-term growth prospects, and still...
...To remedy that would require fiscal consolidation, meaning debt reduction. Some hope in a polarised US, whether under Joe Biden, Donald Trump or whoever....
...The result will be further consolidation in a troubled sector. But that brings its own risks. Read more. Lex can see other sectors ripe for dealmaking....
...Warehouses have held up better than other large commercial property sectors, such as office and retail, as the market suffers a brutal downturn caused by rising debt costs....
...The talks between Brookfield and Castlelake, which are in a late stage but could still fall apart, come on the heels of consolidation in credit markets....
...The equity and debt holders lose all their investment, but the assets can be used by a new, debt-free, properly managed company, which new investors will be happy to finance if it is properly constituted...
...Championed by chief executive Pietro Labriola, the deal would cut debts by about €14bn and give the group now known as TIM a chance to participate in sector consolidation....
...(Sometimes the equity method is referred to as a “one-line consolidation”). If you’re still following along (and how could you not!) this is where the fight begins....
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