If Euro collapses investors will move into wine
If Euro collapses investors will move into wine
May 21, 2012 6
(Harpers) - If the Eurozone collapses, there will be a move into wine from investors, but it will be short-lived - that's according to the Financial Times' investment columnist John Authers. Speaking at the London International Wine Fair's opening conference, Authers warned that as an asset wine's performance would be playing on growth in China or on global inequality. "It puts a great deal of faith in China to pull through," he added.Given current pressures on the Eurozone, Authers summarised that while a "Grexit [Greek exit from the Euro] would be bad, a total break-up would be an economic disaster for the entire eurozone". He predicted that a fall in output across the Eurozone of between 11 and 15%, "worse than anything seen since they 1930s".
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