“Surprisingly, when it comes to the crisis in Europe, U.S. CFOs are more concerned about the future of the euro zone. Based on a scale of one to five, one being not concerned and five being very concerned about the fate of the euro zone, 93 percent of U.S. CFOs selected three or higher — 73 percent of the European CFOs surveyed assigned a three or higher. Of the CFOs surveyed, 30 percent from Europe feel that the European Central Bank holds the primary ability to produce a lasting solution to the Euro-crisis, compared to 26 percent who believe Germany can produce the solution. U.S. CFOs were more likely to believe that the primary ability lies in Germany (33 percent) versus the European Central Bank (17 percent).
This data furthers our view that while Europe is moving gradually to address fiscal concerns and even political/structural disparities, the uncertainties of this process remain (with perhaps higher confidence in longer term solutions by European financial leaders). However, European austerity and recent crisis will continue to be a drag in views of most and Europe’s own CFO’s. Recent rebound in Euro with respect to US Dollar represents a bit of relief recovery but also response to Bernanke/Fed announcement of extended interest rate at virtual zero (till end of 2014). Nonetheless, US economy looks more favorable for growth than Europe, and contrary to most commentary, a Second-Term Obama Presidency could be highly favorable to business and consumer with steady expansion and recovery from 2008 lows. More of our Video for Blogs & Current News Event Articles at our International Financial Crisis Channel - http://diplomaticallyincorrect.org/c/international-financial-crisis
Link to CNBC Story - http://www.cnbc.com//id/46554896
By Ambassador Muhamed Sacirbey – Follow @MuhamedSacirbey
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