Explain why the November 1996 Deutsche Telekom issue (p. 361) was a landmark global financial markets event. Discuss: general reasons for privatization and DT's reasons for it; why DT had to expand the offer outside Germany; why the issue was successful from both investor and issuer points of view. 2. Why is the lack of government regulation both the big advantage and the big drawback of the euro currency market? Explain why the Eurobond market has many similar features of attractiveness to both investors and issuers. Cite a recent example in the news.