Europe-it's day in the sun?


Manage episode 294965086 series 2927946
על ידי Quantum Mechanics התגלה על ידי Player FM והקהילה שלנו - זכויות היוצרים שמורות למפרסם, לא ל-Player FM, והשמע מוזרם ישירות מהשרתים שלכם. הירשמו כדי לעקוב אחר עדכונים ב-Player FM, או הדביקו את כתובת העדכונים באפליקציות פודקאסט אחרות.

Is Europe about to have its day in the sun?Europe is turning a corner. The current massive projects to Green and Wire the EU - funded in part by the EU New Generation Funds could add 1-2% per year to Europe's growth rate. It is matched by economic, judiciary and social reforms and is thus productivity boosting. It is designed to be socially inclusive. It will boost public investment by nearly 10% of GDP between now and 2026 in Italy and Spain. But it is designed to crowd in private investment in areas where the EU has an edge (e.g. Green investment). And the (Die Gruene) Greens coming to power in Germany in September are likely to add 1.5% points of GDP to productive public spending, with a focus on Green projects, after years of sclerotic decline in Germany's infrastructure. For investors this supports EU equity long positions and a strong Euro. But bond yields will go higher and should be avoided.

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