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Thursday, July 5, 2012

Room for Optimism on Europe: Mark Mobius

Squawk Box Europe
Squawk Box Europe (Photo credit: Wikipedia)
There is room for optimism that Europe's economy will recover, Mark Mobius, Executive Chairman at Templeton Asset Management's Emerging Markets Group told CNBC on Thursday, as companies in fast-growing emerging markets look to make acquisitions in the region. "One of the reasons why I'm optimistic about Europe is that all this money in emerging markets is waiting for the opportunity to buy assets in Europe," he said.
"So there's going to be plenty of opportunities for Europe to sell state assets or other assets... So the picture looks very good," Mobius told CNBC's "Squawk Box Europe". Despite the global impact of the euro zone debt crisis, Mobius said emerging markets would continue to outpace their Western counterparts. “The emerging markets are doing very well. Economically this year average growth for all these markets would be around five percent and the debt to GDP levels are low compared to developed countries,” he added. ... Continue to read.
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