PA Portfolio: What is your Europe strategy?

Sheldon MacDonald, senior investment manager, Architas The notion of a two-speed Europe has prevailed for some time. In the fast lane is Germany, persevering with tough austerity measures and generating decent economic growth. There have been occasional doubts over its immunity from the wider malaise when data disappointed but, relatively, Germany has done well. That is partly because, in the slow lane, Europe's periphery - particularly Greece and Spain - has struggled so severely with low growth, high unemployment, political turbulence and poor sentiment. The playing field may at l...