"During the Industrial Revolution, which made
Europe into a powerhouse, economic growth was 1.3 to 1.4 percent a
year," he reported. "This year it's at 1.4 to 1.5. Next year the
consensus projections are 1.9 to 2. Luxury brands are doing especially
well. Economic growth overall is already positive and continuing to
improve."
As a result of all the turmoil, living standards in Europe – on a relative basis – have recently experienced what Martin Currie considers "a big fall."
"Europe has faced a debt crisis stemming from certain countries overspending, of that there is no doubt, but when situations like this happen the size of the state often shrinks. That can be very positive for the private sector, which can move more freely to fill the voids governments leave."
"In a big swath of history, this led to major restructurings," Mr. Browne said. "It's tied together with historically low interest rates and falling oil prices. Yet at the same time corporate balance sheets have been cleaning up to some of the best debt levels we've seen since the early 1990s."
"The question is will it bite and take hold, or is this yet another false alarm? We think it's real." Continued pessimism on Europe's outlook results from media interests, in Martin Currie's view.
Read more: Europe Appears Poised Not for Economic Collapse but Steady Rebound - MarketWatch
As a result of all the turmoil, living standards in Europe – on a relative basis – have recently experienced what Martin Currie considers "a big fall."
"Europe has faced a debt crisis stemming from certain countries overspending, of that there is no doubt, but when situations like this happen the size of the state often shrinks. That can be very positive for the private sector, which can move more freely to fill the voids governments leave."
"In a big swath of history, this led to major restructurings," Mr. Browne said. "It's tied together with historically low interest rates and falling oil prices. Yet at the same time corporate balance sheets have been cleaning up to some of the best debt levels we've seen since the early 1990s."
"The question is will it bite and take hold, or is this yet another false alarm? We think it's real." Continued pessimism on Europe's outlook results from media interests, in Martin Currie's view.
Read more: Europe Appears Poised Not for Economic Collapse but Steady Rebound - MarketWatch
