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Spotlight Ideas Managing Partner Stephen Pope weighs in on "complacency" plaguing Europe's economic recovery.
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While the Euro dipping against the dollar -- the ECB president Mario Draghi said the currency's exchange rate is important for growth and inflation and adding to that that there are still risks to the region's economic recovery however.
So what is next for the Euro -- let's bring in Stephen Pope managing partner of spotlight ideas David thanks a lot for joining us like we haven't seen.
The dire headlines we got so used to having Europe for the last couple of months but I would.
The heck you know hazard a guess that Greece is still broke its -- Spain's economies in the -- Spain is from -- in the homeland tunnel I mean bottom line is -- things any better now than they were two or three months ago.
Most in need that's -- I believe we're -- with massive doses of complacency.
That's why we've seen this big contraction in the -- that Spain and Italy have over Germany.
But I think you're seeing -- don't develop parts of the world need growth and if they do have a currency this running at a strong level -- an impediment to that.
So I think -- -- abroad he says that he's not trying to manipulate the exchange rate but he's -- about the growth in the tail risks.
No he's using his woods is a weapon in this so court.
Current growth and to -- currency war record currency worry is mad -- my god would have us believe -- -- -- -- What's interesting is because we -- get a whole lot of out of the G-20 Japan to get a slap on the wrist they gonna do what they going to do.
But also -- is starting to four as well I mean is it just a race to debase around the world.
I think current time I think there is a big issue about -- going through Forex limbo trying to get those those possible.
I think that the UK we have had to rather difficult time in growth has not been as from would like.
But certainly I think that if you go across the -- Euro zone situation there is more of a concern.
Not least because we have this very young.
Certain situation next weekend with the Italian Villa Schumer in a blackout period we're not quite sure all the -- -- -- have a very himself mr.
Berlusconi will be back so it's.
Lots of issues Omar is in the Euro -- well yeah and essentially because Berlusconi of -- he's only.
The last poll before the blackout -- -- just about 5% behind the leading -- over the four main parties.
Me Berlusconi gets in he's promised a basically -- do everything that Mario Monti put in place and I mean.
The outcome of that could be disastrous could -- not.
But -- certainly he's -- very much ninety Monte rhetoric and here.
Trying to say that Germany is a behind all the attendees troubles.
I think he would be elected he would then be expected to -- out these ladies of tax -- -- -- -- -- reforms and -- Rebates to various vested parties so that's probably the last thing we need -- what would probably happen.
-- will end up with a very weak leftists into coalition I'm probably within three months in my will be another election which could then be Berlusconi's main -- -- getting back in.
You know last week we got to look at the -- to for the national GDP is in -- -- Euro zone of regional and bottom line is it was ugly reading do you see any interest.
Signs of growth for the a year ahead Stephen in the eurozone.
I see signs of growth and says that those good corporations that operate on a global basis -- would decide that they want to.
Outsourced to a cheaper -- to improve the efficiency of this supply chain -- -- China operations.
But overruled the economic growth prospects in this part of the world all very tepid at the current time.
This seems to be a downturn in Germany which has been the most true of any growth you're -- who sat.
I'd also explain being embroiled in political intrigue -- well.
I think the outlook is very -- the current time what these -- he's not the ECB sitting there straight -- saying we worried about so this that the other just.
Allow a re drafted their rebate let them stopped -- -- not just inflation but managing unemployment so targets within the whole region as well.
Otherwise we just tend to drift on.
Further -- further -- -- -- packaging and as I said I think we really have them.
Evening in the land of complacency and we -- sleepwalking towards a potential another disaster.
Those happy notes Stephen Pope with spotlight -- is from a Westminster tonight state and thank you so much.
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