Swiss & Global Asset Management has spoken strongly in favour of the German economy predicting it will grow by more than 3% for the second year running.
This robust recovery from the global financial crises will be driven by strong exports, a stable financial sector and a lower budget deficit, says fund manager Oliver Maslowski, who backs up his conviction by adding, "Its deficit compares favourably to other European nations. For example, in 2010 Germany had a budget deficit of just 3.3% of GDP, while the UK figure stood at 10.4%." Maslowski, who heads up Luxembourg-domiciled JB German Value Fund, believes that the proposed Greek bailout should restore investors' confidence regarding the Eurozone and shows that default is not an option. ...
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