Why European equities represent very good value

ON EUROPE

Royal London's Kevin Lilley says despite negative news flow over sovereign debt, stock, sector and market valuation models continue to show substantial upside to fair value.

Once again European politicians have demonstrated there is a strong political will for Europe and the euro to continue in its current form. Greece has been handed a stay of execution following its successful austerity vote and it has become clear the political elite are engineering a medium- to long-term solution. We can intellectualise as much as we want about the merits of the euro and the eurozone but as long as European politicians want it to, rules and regulations will be changed or fudged. No individual country in Europe is large enough on its own to have political clout on the ...