Mobius: Global economy will avoid double-dip

Franklin Templeton's emerging markets specialist Mark Mobius says the global economy will avoid a double-dip recession.

The manager also believes falling stock prices are creating buying opportunities in eastern European countries such as Hungary. "Globally there will not be a double-dip," he told Bloomberg Television today. "In Hungary, we have seen falls of 20% or more and in that kind of scenario there are great opportunities to buy from a longer-range point of view. "Their numbers are not as bad as Greece." The MSCI All-Country World Index has fallen 15% since mid-April on concerns Greece's debt crisis will spread and jeopardise economic expansion around the world. Hungary's forint fell to...