Europe

Andrew Lake of Aviva Investors looks at how high-yield has found its place in the market

Economist Nouriel Roubini, known around the world as Dr Doom for forecasting the credit crisis, says Portugal will be the next European country in line for an Irish-style bailout.

On 2 May, members of the euro helped complete a large bailout for Greece. They did so to avoid a rolling crisis moving the problems on from Greece to other Euroland countries.

European funds have recouped most of last year's losses by focusing on global companies and avoiding debt-ridden countries

ON EUROPE

Standard & Poor's has downgraded Ireland's long-term sovereign credit rating from A to AA- as the country prepares to accept an EU bailout.

FSA chairman Adair Turner says Britain's banks are not disturbingly exposed to Irish banks or Irish government bonds.

BlackRock's Daniel McKernan has joined Scottish Widows Investment Partnership (Swip) as head of European and UK credit within the fixed income team.

THE BIG QUESTION

Legendary investor Jim Rogers believes Ireland and wider Europe would be better off if the Celtic Tiger was allowed go bankrupt.