In spite of markets relaxing concerns for the Euro Zone, Denko Group warns it clients not to jump back in too soon.
The unprecedented one trillion dollar bailout package has lead to one of the biggest three day rallies in history. The street perceives this backstop provision as the answer to recent downward pressures on the Euro zone. This combined with austerity measures implemented by the more problematic Euro members such as Greece and Spain have some saying the problems are over.
“This attitude is very premature.†states Carlos Taft, an economic forecaster for Singapore based Denko Group. “In spite of the staggering size of the bailout package, it is merely window dressing compared to the underlying problems facing the European trading bloc. Until the fundamental problems are addressed, such as uncompetitive labor rates and benefits, we are recommending our clients proceed with great caution.â€
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