McQuaker's verdict on Europe: On the mend but not fit for action

When Ben Bernanke suggested the end of quantitative easing (QE) was closer than investors had thought, markets wobbled. Soothing words from the US Federal Reserve chairman followed, markets rallied and it seems a hint of complacency has returned. That has been a stroke of luck for European policymakers who need more time to tackle deep-rooted problems in the eurozone. Unfortunately for them, however, the window of opportunity may not last forever. During May and June, weakness in China, rising 10-year US treasury yields on QE tapering speculation and a stronger dollar combined to hit ...