EM turmoil and Eurozone laggards

The meltdown in Brazil is not exactly unexpected since one of my ten surprises for 2014 was that Brazil goes into recession. But I find the pace of the currency reaction alarming and we should be prepared for a crisis as a result. In the developed economy, despite sluggish growth, I am generally positive on the near-term. France and Italy are the laggards to be concerned with.

The meltdown in Brazil is not exactly unexpected since one of my ten surprises for 2014 was that Brazil goes into recession. But I find the pace of the currency reaction alarming and we should be prepared for a crisis as a result. In the developed economy, despite sluggish growth, I am generally positive on the near-term. France and Italy are the laggards to be concerned with.
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