Fund Update Archive
16-07-2010
Letter to Shareholders Value Bonds Q2 2010
Europe on a diet
During the spring, it became increasingly apparent that Greece was unable to handle its maturing wall of debt by itself. A dangerous combination of political reluctance to take the necessary steps and a growing fiscal deficit decreased global confidence in the Greek economy and the country’s ability to handle its debt repayments.
Sparinvest S.A. | 28, Boulevard Royal | L-2449 Luxembourg | Phone: +352 26 27 47 1 | Fax: +352 26 27 47 99