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Megan Greene: Questioning the euro zone recovery
With the PMI back in growth territory for the first time since January 2012, there is optimism the euro zone could exit its longest recession on record. But chief economist, Megan Greene from Maverick Intelligence, tells Saxo TV's Sara Walker she doesn't believe the region is really recovering and says there is still a big divide between the core countries and periphery ones.
Her main concern is France, that's due to a number of reasons; its banking sector, its lack of competitiveness, the fact that there have been practically no reforms and no political will to push reforms through.
She says it is the structural reforms that will support growth in the medium to long term. Many countries try to export their way out of the crisis but with China slowing down, and a sluggish recovery in the US, it's hard to know where the demand will come from. Megan believes growth will come from manufacturing rather than services.
If investing in Europe, she thinks the high grade corporates are the best bet.
02:10 minutes
Tags: autoplay, banking, bonds, china, competitiveness, corporates, demand, eu, euro zone, europe, eurozone, export, france, germany, growth, liquidity, manufacturers, maverick intelligence, megan greene, periphery, reforms, sara walker, saxo bank, saxo tv, services, structural reforms, tradingfloor.com, us, video