The data flow out of Europe today is pretty bad. German factories orders missed and unemployment rose to record levels in France and Greece. Meanwhile the IMF admitted that Greece's delayed debt restructuring "provided a window for private creditors to reduce exposures and shift debt into official hands." Does any of this change my bullish bias on Europe's economy? No, I believe Europe will exit recession at some point in the second half of 2013.
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Daily Comments: 2013-06-06 – European economy originally appeared on Credit Writedowns