European outlook positive as 2010 draws to a close

ON EUROPE

Lazard's Aaron Barnfather says indicators suggest economic recovery is continuing at a steady pace.

Now in the final quarter of 2010, our outlook remains one of cautious optimism. News from core of Europe has generally been positive, with each new announcement dampening talk of Europe’s economic problems. A number of indicators suggest the economic recovery is continuing at a steady pace. The eurozone’s economy expanded by 1% in the second quarter, the fastest pace in four years, defying sceptics who expected sovereign debt issues to spread to the region’s larger economies. Economic news from Germany, in particular, has seen much to encourage investors, with unemployment continui...