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Let's talk more about the markets and the economy -- Cyprus perhaps the distant memory.
Preliminary estimates on European confident show consumers are becoming more optimistic about the state of the there economy.
US executives seem to agree explained Ernst and -- capital confidence barometer 90% of those surveyed think the global economy is either stable or -- -- -- now more on the company's biannual survey is Richard Jenrette Ernst and young's Americas vice chairman and -- replaced -- here today.
To be -- for what that cut us off guard is the fact that Europeans are so confident I mean Cyprus just couple months ago.
-- toppling the global markets -- all about.
That was one of the most interesting parts of the survey is that by country.
The number of countries in Europe that had a much greater kind of level of confidence about their economies particularly as compared to the US which is much more a Bellwether and stable economy.
Was much higher so I think the acuity the political season that -- in in the US here's kept the US down.
That's a good observation I'm also curious if -- something cultural to take into consideration to any.
Are Europeans every -- people as cognizant of how at risk and house sluggish their economy is the reports now that.
Germany France are at risk for credit downgrades to think people care about that perhaps the -- maybe some Americans -- Probably not and the media doesn't focus on it quite the -- plus we've gone three or four years now without a major crisis truly occurring there's been a lot of concern and worries that.
You know Cyprus Greece six -- -- could go down and yet the impact has not been nearly as severe as perhaps some portray it to me.
-- -- -- all the politics here in the US which is influencing how optimistic your survey respondents are and you're saying that you're seeing some improvement for what specifically -- keep looking into now -- -- because the worst is behind this or they're looking ahead to new things and new opportunities.
I think -- -- the worst is behind and we had a bruising political season lot of concerns about.
The fiscal crisis to sequester and the impact has not been nearly as severe some predicted the market still hanging in -- very strong.
Interest rates continue to -- availability of credit is high.
And our organizations are finally sort of slowly getting this behind them they're more upbeat about growth.
Doing deals and dot deploying their capital a number the survey respondents said -- -- actually gonna hire more and in the course of the next twelve months so.
I think they're slowly sort of getting this behind them there's growing optimism still some concern.
But nonetheless they feel better and I think it's because the overall markets are hanging in there really well.
Your survey was obviously done before the Boston Marathon bombings not the aftermath do events like this threats of -- will not threats of -- real terrorist attack.
Do you think this could influence confidence -- next -- annual report.
You know we think we certainly hand the analysis that done in the past and sometimes it can do you look at the course of last year we had an earthquake sent.
Bigger concerns about broader terrorist attack.
You know incidences.
If they're more systemic people feel that they can -- -- couldn't -- recur there's.
How much greater connection to something that -- overall populace would be worried about they can have an impact on confidence but the markets hung in there really well last week.
The markets are hanging in but it's debatable as to where we go from here we were flirting with that 151000 marquee where we're -- chit chatting about in a commercial break obviously pull back from there.
Had a lot IPOs come online SeaWorld fairway grocery stores that's obviously good -- so I think there's a growing debate about.
Where the economy and the markets are -- so what's -- forecast here for the duration.
Hear what the the interesting thing about the surveys there's a confidence paradox clearly a growing sentiment on -- markets.
Greater concern and so it just me greater optimism -- but unemployment the deployment of organic capital.
But then when you look at the emanate.
Aspects of the results of the survey.
A lot of people think -- going to improve 75% but only about.
A less than a third think they're going to do emanate themselves like I think they're gonna slowly dipped their toe in the water they're concerned about how severe financial recession we had.
And it's -- could take some time for the markets to prove it to them.
That they're really ready to go and put down more capital making changing bats but.
The valuation -- have narrowed -- -- most predict they're going to increase over the course next -- those who make the move now are gonna be rewarded.
Sorry got a head start rich -- appreciate your taking you -- assess -- good afternoon didn't even.
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