The Budapest bourse's chief executive, who laid off a third of her staff and cut costs last year, said her bourse would survive by attracting companies too small to be floated abroad.
The tax-shifting players are well known: Apple, Starbucks, Walgreens, Pfizer, Google, Burger King and a dozen other blue-chippers have buckets of cash free-floating abroad or are looking for ways to do so--all in an effort to circumvent U.S. tax laws.
The earliest, a joint-venture called CICC set up a decade ago by Morgan Stanley and China Construction Bank, brought the Americans juicy mandates to float Chinese companies abroad, but not the entry to domestic markets they had hoped for.
And The City is the center of Eurobond trading, in which companies or governments float bond issues abroad - a practice that has mushroomed to $200 billion a year from $30 billion five years ago.
A country prone to sharp devaluations of the currency must now cope with the real's strength: it has gained about 4.2% against the dollar this year.During the turbulent 1990s, Brazilian firms sought to float on exchanges abroad, calculating that a foreign listing would give them access to deeper pools of money and an implicit stamp of approval in the eyes of investors.
In June, the provincial government tried to head off the looming cash crunch by floating a bond abroad, but that plan was derailed by the financial disorder enveloping the country.
He has floated hundreds of millions abroad, imperiling the investments of unwitting citizens but increasing his company's earnings, to the great satisfaction of his boss, Jeffrey Holland.
But as they continue sorting through intelligence, they have disputed suggestions floated in Washington and abroad that the attack in Benghazi was premeditated.
An avid adventurer and cyclist, he enjoys frequent camping, backpacking, and whitewater float trips throughout the U.S. and abroad.
In his New York Times column last week, David Brooks called the league "the best idea floating around" for likeminded democracies to "wield authority" abroad.
