Are Europe's fortunes changing?

Two main concerns forge the consensus view of Europe as being unattractive relative to other regions: the lack of economic growth, and long term structural issues determining that continental Europe has too high and rigid a cost base. Are we seeing any evidence to challenge these long-held views and can the perception of Europe change? On the first concern, while the European economy has lagged its developed country peers, more recent economic data has been more positive. In France, the economy grew faster than expected to June 2004, and was largely driven by consumer spending. Also, the...