Improvement in growth expected

Slow economic growth in Europe has been the feature of the first half of the year when compared to the continued strength of the US economy and recovery in Asia. This has been the major factor behind the weakness in the euro since its creation, which has undermined returns from the region as reasonable local gains have been eroded by the currency's depreciation. For the second half of the year, however, we feel there is evidence that European economic growth will accelerate and improve its growth profile relative to the rest of the world. While some economies, such as Spain and Ireland, co...