The Spanish have proved themselves masters of the bank merger. Successfully integrating two differing cultural entities, the merged Banco Santander Central Hispano has within a year become a European force to be reckoned with.
Neighbours take note.
It's evident that there are too many European exchanges and their operations are too costly. Consolidation and cost-cutting are imperative. In the aftermath of the April tech stocks crash, Goldman Sachs, Morgan Stanley and CSFB have been singled out. Critics have focused on these banks' numerous failures and have asked questions about their management of the flood of internet IPOs. The high-tech industry in India is booming, serving clients around the world.