Morse: Confidence returns to Europe six months on from crisis

MORSE'S CODE

Fidelity European fund manager Sam Morse explains how confidence on the Continent and in the single currency has rebounded from depths of the debt crisis.

Just six months ago, many people wondered how Europe would find its way through the Greek debt crisis. For a time, many people thought the euro might implode, or that Greece would be cut adrift. Neither happened, of course, and the single currency has sailed through relatively unscathed. Evidence of the new-found confidence in the euro can be found in the currency’s relative strength against the dollar over the past six months, and in the mature, muted reaction to Ireland’s bank bailout. The irony of the spring crisis is it actually helped the eurozone. Confidence drained away from...