Eurozone economies including Greece have put a dampener on early optimism about South Africa’s recovery, as Europe remains the country’s biggest trading partner, BoE Private Clients said on Wednesday.
The featured appeared on busrep.co.za and it quotes Daryll Owen, chief investment officer for BoE Private Clients.
“Currently there are clear stresses in the system, evidenced by sovereign risk concerns over Greece, Spain, Italy and the like.
Our base case is that the euro will survive the first real test of its cohesiveness since its introduction in 1999, but will go through thorough stress tests, the weakest link being tested first,” Owen said.
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