Global investment management corporation BlackRock has issued an upbeat analysis on a series of the continent’s nations — including the one that has grappled with some of its biggest problems: Greece.
The asset manager describes the country as “resurgent”, and argues that its successful return to financial markets after a review of its third bailout “will unlock significant investment demand”.
Chris Colunga, co-manager of BlackRock’s Emerging Europe PLC, points out that Greek debt could “eventually” qualify for inclusion in the European Central Bank’s bond-buying stimulus policy, “providing the government with a lower cost of debt and reassuring investors”.
Along with a pick-up in economic growth, it means Greek banks could move away from doubts about their solvency, says Mr Colunga.
He identifies “room for substantial improvement” for Athens-listed financial stocks, which are looking cheap compared with their peers.