Europe edges back from the brink, one step at a time
Thus far, 2017 has been a good year for Europe – and investors are seeing the benefits
At the start of the year, we said we would keep a close eye on European politics. Although it’s been scarcely believable at times, what we’ve lived through over the past year or two is not a fantasy brought on by some hallucinogen but a stark reality of the world we live in and all its complexities. While German Chancellor Angela Merkel’s political fate is still to be decided later in the year, I would bet that her schnitzel and sauerkraut tasted particularly good on the Sunday evening after the results of the French election came in. This result was not a Trump-esque upset, as Macron had been expected to win, but it was another case of a rookie coming through strongly and showing up the established and more seasoned politicians. Macron has little political experience, having only founded his party in April 2016, but his fresh brand of politics could be a tonic for a divided France. One feels this could be the last-chance saloon for moderate politics in France and that failure would...
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