Argonaut's Norris: Talk of the euro imploding is scaremongering

Ignis Argonaut's Barry Norris believes concerns over a possible euro collapse are overstated, despite S&P's raft of downgrades last Friday putting further pressure on the single currency.

The manager argues ten-year yields for the vast majority of the eurozone have tightened, with only Italy, Portugal and Greece yielding more going into 2012 than they did at the start of 2011. He added with yields falling the European fixed interest market is in a healthier position going into this year than it was at the start of 2011. Norris, who heads up the top quartile £285m Argonaut European Alpha fund, said the S&P downgrades failed to highlight bond yields on the whole have declined over the past year. "The suggestions and headlines which state the euro is about to implode a...