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Just as soon as the Greek election was over as we mentioned Spanish bond yields surged topping 7%.
That shows major cracking the rivets popping off -- the side of the Titanic water spreading out all of the place.
There is still worry why well because according to the former Greek deputy finance minister.
Will -- Greece is just a tiny -- on the elephant of Euro problems are Ashley Webster caught up with him.
Asked him if he's concerned that it could undo the entire eurozone here's what he said.
So we're very concerned I mean if Greece was the only problem mural that -- -- feel more comfortable Greece's only 2%.
Of European GDP so it's a small.
I didn't in the -- European items but Spain and Italy are big stuff.
However did delayed in the solving big Greek problem -- -- -- -- big of the European Union to tackle even -- homes.
I think -- can't handle his problem of Greece -- -- certainly handle too big to fail Italy bright and possibly Spain.
Steve -- doesn't even care he has a slightly different view on what Europe really means for you the investor he's the chief investment officer for global equities at Federated Investors.
Thirty billion dollars in assets under management at the firm you've got about a 349.
You're not worried I'd love reading your work because you make me feel a lot calmer battle this decent house actually -- the time.
Yeah I think I mean you got here in the streets here people are very bearish.
Equities -- -- they've been a long long time bonds we haven't had US treasury bonds at this level since World War II.
On the verge of the entire continent literally explode.
And you know I just think it's unique opportunity for investors to -- in here for market this likely go much higher over the next two to three years.
Here's that ten year yield one point 58% so folks in essence what you're doing is you're giving.
There's a thirty year -- giving the government your money don't hold up with a measly one point 58% return there are other opportunities but.
Is it not just a little bit scary Steve to say here let me invest in anything in Europe -- -- -- not worried about that.
Well I think there's two opportunities with your point is they just completely -- -- -- think you've got to believe they're not gonna do that the other is that they moved to consolidated fiscal monetary banking union.
And that is exactly where they're moving they're not going as fast as a lot of the bears would like but that's the direction you're less.
You know quote there was from another.
Public policy -- you're getting a lot of this public negotiation on television range of positions ultimate which is scary but ultimately.
They're moving towards a better place Europe's gonna be a great place to it to have money into.
And -- -- listening to him verses are you or Ben Willis who was just on the trading floor saying yes the the greatest games are made when the fear is the greatest.
You have greater belief that the S&P 500 will move well off the levels that it's -- right now -- in the thirteen hundreds where do you see it going right now.
Which we've got to go to 1450 by the end of the year wears on and that's just an idea -- we have basically communicate -- he's gonna go higher.
When it'll be at 16100 within one to two years so.
But yeah we think it's -- had a substantially.
-- these loans -- -- -- you have thirty billion in assets under management up going with your choices and your choices are going to be articulated in just a minute.
Steve is back in a few seconds -- -- the things that he really --
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