Many are praying that the euro crisis does not deteriorate even further, and among the most devout supplicants are M&A; bankers. The dark cloud of uncertainty hovering over the eurozone is hardly an enticement to deal-making. Valuations depend on heroic assumptions about future growth and interest rates. Financing deals, especially if they involve more than modest leverage, is more difficult. Above all, every time investors take fright at a particular market a political crisis also erupts, as in Ireland.read more