Eurozone

The EU summit on 4 February passed off with surprisingly little drama. The EU nations for once decided to avoid interesting public rows on the future of the euro.

ON EUROPE

Neptune's Rob Burnett has moved from an underweight to a neutral position on banks for the first time since 2009 on his £1.12bn European Opportunities fund in the belief a solution to the Eurozone sovereign debt crisis is "imminent".

Ten-year Portuguese bond yields have reached a new high of 7.16%, driven by speculation the country will ask the EU for a bailout.

The sovereign debt crisis in peripheral eurozone economies will not spill over into Northern Europe in 2011, says Invesco's chief economist John Greenwood.

The euro has fallen against the dollar amid renewed debt fears in the region as the yield on Portugal's treasury bill sale climbed to nearly double that of its last issuance.

DOES EUROZONE CONTAGION MATTER?

THE EUROZONE'S LATEST CRISIS

European fund managers are increasingly finding value in non-euro countries. Joanna Faith reports.

MACROECONOMIC FOCUS