Capital markets – the right fit for SMEs?

French or German small and medium enterprises can borrow loans at cheaper rates than their southern peripheral neighbours. As banks retrench, corporate debt markets have become fashionable. But can they address the eurozone's 'financial fragmentation'? Ralph Atkins, the FT's capital markets editor, discusses with Michael Stothard, corporate bond market correspondent, whether their issuance will trickle down into the SMEs and create what the eurozone needs – jobs and growth.