Inflation is not a threat to market

The modern European story is a fascinating one for investors. It will span the next 20 years and we are currently only beginning the second chapter. Chapter one saw the first steps towards monetary convergence, with the Maastricht treaty, followed by the introduction of the single currency in January this year. Alongside this, industrial restructuring took on a different dimension, with an increased pressure to compete internationally. For equity investors in particular it was an exciting time. As companies modernised, many realised that they had to go to the equity markets to raise the ...