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From Komfie Manalo, Opalesque Asia:
The participants at the recent Opalesque Geneva Roundtable sponsored by Custom House Group and Taussig Capital were in agreement that Europe is facing both economic and political crisis and that the problem may grow in the near term.
But while the panellists expressed belief that a recovery will come later, it will be "unlike previous economic recoveries, not like the drama of the 1930s, but a period of slow grinding growth."
One participant, Tony Morrongiello, Managing Partner at fund of funds firm Caliburn Capital said that developed economies are characterized by long term capital scarcity.
"I can’t see how a short term fix in Europe is going to change this fundamental problem," he noted. "There is not enough capital to go around to support these economies, the banks have to de-leverage, the governments have to de-leverage, which is very deflationary and does not give a great outlook for the European consumer. The U.S. is in the same position. Long-term structurally, we are going through this shift of wealth from West to East and that’s where you want to position your capital."
Simon Collard, CEO and Founder of Collard Ca...................... To view our full article Click here
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