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While 2012 was not an especially good year for global investment banking or capital markets generally, it was an excellent year for privatizations. The total value of privatizations last year, $189.37 billion (€145.66 billion), was the third highest on record. The United States raised more proceeds through privatization sales than any other country while the €28.5 billion ($37.6 billion) raised by EU governments represented only 19.9% of the worldwide total, the lowest on record. The governments have announced plans to divest over $100 billion (€75 billion) annually for at least the next two years, and the continuing fiscal challenges suggests that privatization programs will remain a central issue for many years to come.

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