Europe For Sale

Psst...has Europe got a deal for you. Matter of fact, it has at least 100 major deals, many of them poised to trip over one another for attention in the world's capital markets. Squeezed by budget deficits and eager to taste the fruits of free-market competition, Western Europe's governments are about to begin a massive sell-off of state companies. This final round, following sales in the 1980s, aims to pour a mighty $150 billion into needy treasuries over the next few years. That assumes markets are willing--a big if.

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