EU Leaders Told to Stop the Showboating

12 December 2011 (PLANSPONSOREurope.com) - ‘Political showboating’ from EU leaders as well as an uncertainty around measures to tackle the Eurozone debt crisis will lead to continued market volatility, according to David Lloyd, head of institutional portfolio management at M&G. 

Last week at the first working session of the European Council, 23 of the EU’s 27 leaders reached agreement on short-term action to overcome the debt crisis and on a new fiscal compact for the euro area.

But Lloyd told PLANSPONSOR Europe: "There is an enormous, and predictable, amount of political show-boating going on from both sides in the UK and from the principal players in Europe.  

"It strikes me as profoundly odd that the debate is now dominated by speculation as to the political and economic consequences of Britain's "isolation", when the focus should still be on whether enough has been done to solvethe liquidity and solvency issues of the euro-zone crisis.  

"On that key point, there is no certainty.  And with that uncertainty will, inevitably, come continued market volatility." 

PLANSPONSOREurope Staff
editors@plansponsoreurope.com