Finally someone said that Europe is moving in the right direction. Mark Mobius of Templeton Emerging Markets Group was on CNBC to discuss his views on the European Debt crisis, the path it should follow and how much time it will take before we see a light at the end of this long dark tunnel.
Here is what he said:
- He is confident of the situation in Europe
- It will take 3 to 4 years to resolve all the debt issues
- Europe is moving in right direction
- Spain should consider deep spending cuts. He thinks cut in government spending will make room for private sector to grow and will boost the Economy
- All of Europe is facing same problem, Large portion of GDP taken by government spending and that is squeezing the private sector specifically small business who are the drivers of new Jobs
- Very bullish on commodities on Gold, but take a long term view as there will be lot of volatility
- China should grow 7.5% this year if not better. Base of China economy has become so big you cannot expect double digit growth every year
Here is the video:
Here is what he said:
- He is confident of the situation in Europe
- It will take 3 to 4 years to resolve all the debt issues
- Europe is moving in right direction
- Spain should consider deep spending cuts. He thinks cut in government spending will make room for private sector to grow and will boost the Economy
- All of Europe is facing same problem, Large portion of GDP taken by government spending and that is squeezing the private sector specifically small business who are the drivers of new Jobs
- Very bullish on commodities on Gold, but take a long term view as there will be lot of volatility
- China should grow 7.5% this year if not better. Base of China economy has become so big you cannot expect double digit growth every year
Here is the video:
