Fear and pessimism masking mispriced European opportunities

As a monetary union with structurally different economies, the eurozone has often been described as an economic impossibility. The dilemma of having a monetary union without a fiscal, banking or political union has been horribly exposed in recent years. Indeed, new French president Emmanuel Macron believes the EU and the eurozone will not survive long without further integration. However, what is the way forward? Allocations to European equities hit 15-month high despite election risk Middle ground over Europe Investors have become accustomed to believe that either the EU will pe...