Schroders' Brown: Eurozone is 'serious minefield'

Difficulties in the eurozone pose the most serious threat to recovery in developed equity markets, despite a positive outlook for growth, says Schroders' Alan Brown.

The firm's chief investment officer says the prospect for growth is reasonable and fears of a double-dip recession will recede, although there are certain stumbling blocks that must be avoided. He says the "most serious minefield" is eurozone difficulties, including Portugal's bailout talks and Spain, which has heavy funding and will potentially cause trouble. He adds Spain "is the one we need to keep our eye on the most." If Spain requires a bailout, this would be the breaking point, says Brown, as the group of countries that would have to provide the rescue package is getting smalle...