Although not a new problem, there is an imbalance between the source of capital and the potential uses of that capital. The largest pool of long-term capital in Europe has been the sterling market, which has a limited appetite for funding euro-based infrastructure or infrastructure outside the Eurozone. The use of currency swaps to match the sources and uses of capital is limited by (1) the maximum tenor of currency swaps being well short of the optimal term of project debt; (2) the introduction of counterparty risk into the financings; and (3) the inability of SPV project companies to post the collateral that is required by swap counterparties.