Greetham: Europe's fiscal treaty is a suicide pact

Europe should turn its back on austerity and its fiscal pact and pursue a pro-growth agenda like the US, according to Fidelity's Trevor Greetham.

Speaking at Fidelity's Economic Forum, the portfolio manager on Fidelity's multi-asset funds said Europe's fiscal agreement is a "suicide pact" and said the region needs to adopt a credible long-term plan to counter "vicious" short-term economic cycles. "I don't think austerity is working in the UK or Europe. We need to get stimulus going," said Greetham (pictured). Calling for more "consistent" stimulus measures, he said central banks will only begin a new round of money printing when economic conditions deteriorate further. He said debt problems are best solved through pro-growth...