Here are two interesting charts presented by economist Joachim Fels at Morgan Stanley’s Macro Ideas & Insights Forum in London.
They show the “CRIC” cycle and how it has rolled in Europe.
Basically, complacency begets a crisis, which begets a response, which begets improvement, which begets complacency. And it all starts over again.
Morgan StanleyAs it relates to Europe:
Business Insider Emails & Alerts
Site highlights each day to your inbox.