Realigning the stars

EUROPE

European leaders must return to the original reasons why the Union was formed is if they are to try and save the beleagured eurozone, writes Fiona MacRae of Alliance Trust

As politicians try desperately to avoid the train crash called the eurozone, the two main questions to arise are: how can they have got it so wrong? And, given their miserable record, will they still be able to rescue something credible from the wreckage? Unfortunately, even seasoned market participants cannot offer decisive answers. What we can try and do is put recent events into context, and assess whether there are any clear opportunities to exploit as events unfold. Greece may be the Achilles heel of the eurozone experiment but the fundamental issues lie elsewhere. Just as a gunshot...