Argonaut's Norris expects V-shaped European recovery

The recession is over in Europe and the recovery will be V-shaped, according to Argonaut Capital's Barry Norris.

Norris, co-founder of Ignis joint-venture boutique, forecasts most major European economies will return to growth in the second half of 2009. His comments come a day after one leading forecaster, Roger Bootle at Deloitte, said the path to growth would be long and protracted. Bootle said the shape of the upturn would be U shaped, with anemic growth in the UK next year, and growth in the eurozone not expected until 2011. But Norris says evidence European economies are poised for a sharp recovery is reflected in recent surveys of the manufacturing and service sectors in European econo...