Speaking at a Franklin Templeton investment conference in London this week, Zahn said his overall view of Europe is that “it’s not great, it’s not terrible, it’s moving along and reforming.” He says investors need to be patient—and selective.


David Zahn
“My overall take on Europe is that it’s not doing badly. There is still a lot of rebalancing that needs to be done between the periphery and the core countries. This will take time. There are still measures that need to put through. There are a number of structural problems in Europe that still need to be dealt with, and they are being dealt with at a reasonable speed. If Europe doesn’t contract in the next year or two, we think that could be considered as doing quite well.