Investment bankers salivate over North Africa http://alethonews.wordpress.com/2011/03/07/investment-bankers-salivate-over-north-africa/

A 2010 Bertelsmann evaluation titled Transformation Tunisia reported:Tunisia’s decision makers have once again advanced transformation too sluggishly. Despite the formal abolition of trade barriers for industrial goods with the European Union as of 1 January 2008, in practice, Tunisia has seen too little progress in terms of trade liberalization [emphasis added].[The] Tunisian banking sector and capital market are regularly cited as one major hindrance to the country’s economic modernization. 

Although they have been formally brought up to international standards, financial supervision and regulation remain subject to political influence. This is partly due to direct state control over financial flows and partly to the state’s direct involvement therein. Although it sold its stakes in two banks in 2002 and 2005, respectively, the state remains the controlling shareholder in at least four other banks because it controls 50% of their assets. Under these conditions, top-rank bank executives are de facto appointed by the president through a controlling body.