Bloomberg reported that Goldman Sachs turned down roles in offerings by banks in Spain and Italy this year, the only top U.S. securities firm not to take part in the fundraisings by southern European lenders as the region’s debt crisis stretches to a fourth year.

The article noted that Goldman Sachs declined a role in Banco Popular Espanol SA’s 2.5 billion-euro ($3.2 billion) rights offering this month and that Goldman also didn’t underwrite this year’s share sales by Italy’s UniCredit SpA and Portugal’s Banco Espirito Santo SA.

To read the full Bloomberg article click here.