After a harrowing 2011 for Europe's crisis-hit sovereign states – and the banks doing business within them – the European Central Bank's long-term refinancing operation has given the markets a much needed boost and offers hope for 2012. However, some still claim that it is little more than a sticking plaster for Europe's troubles.

Europe’s corporate bond market started 2012 at a ferocious pace as investors flocked to what they increasingly perceive as a safe haven. While issuance may slow later in the year, few believe the market is a bubble waiting to burst, and there is a widespread feeling that its heyday will last a good while yet. 

The new CEO of Akbank, Hakan Binbaşgil, explains to Brian Caplen how the past decade has seen the bank transformed by its embracing of new technology, pioneering new channels, targeting Turkey's youthful population, and keeping the customer central to everything it does.

Despite the doom and gloom surrounding Italy's future prospects, the president of its employers association, Confindustria, is confident that the country's new government has already made great strides towards putting it back on a path to growth.

Regulatory pressure and the high cost of capital are driving a radical change of asset ownership in Europe. But most banks could take years to sell their non-core assets.

Europe’s MTN market has proved to be accessible for most SSAs and corporate borrowers since the start of the year. But it is a different story for bank issuers, most of whom are restricted to selling covered bonds. 

Iceland's rebuilding efforts following its economic collapse have borne some fruit, with the IMF predicting 2.5% growth for this year, but the country is still faced with a number of challenges.