Photo: Bloomberg Television
Weekend elections in France and Greece saw voters reject austerity and elect pro-growth socialist Francois Hollande in France, and fringe parties that are anti-austerity in Greece.Barton Biggs, founder and fund manger at Traxis Partners, was on Bloomberg TV saying the elections in Europe are a good thing because he is in favour of reform. Biggs who has been short on Europe had this to say:
“I’m more tempted to cover my shorts than to go long. Simply because I don’t think Europe and the euro are going to survive.
I mean Europe is definitely going to survive but I mean the whole euro bloc concept I’m afraid is flawed and I don’t think you want to be around while its breaking up.”
Biggs said the world of Europe is unravelling however and that he doesn’t want much to do with it and that there are plenty of opportunities in the cyclical areas — manufacturing, natural gas — in the U.S..
Watch the entire interview at Bloomberg TV >