Eurozone 'Armageddon' unlikely

ON EUROPE

Doomsayers will have been disappointed by the eurozone's apparent escapology act.

The sovereign crisis – billed as the catalyst for the break-up of the world’s largest economic bloc – has, at least for now, been averted. While the eurozone faces tough challenges, notably managing its membership criteria, the threat of contagion in Southern Europe, and the subsequent impact on the broader banking system, has for now been contained. With sovereign issues easing, the focus has shifted to company specifics with the market unusually hungry for its quarterly fix of results, reports and outlook statements. Macro issues globally – China’s slowdown, BP’s implosion, ‘double-dip...