Mobius: How Europe can learn from emerging markets

Europe can learn some important lessons from the historical development of emerging economies as it attempts to resolve its sovereign debt crisis, Franklin Templeton's Mark Mobius has said.

The executive chairman of Templeton Emerging Markets Group (pictured) added it was time other European bondholders - including the ECB - shared more of the pain being suffered by the banking sector. Speaking before the Fund Forum event that began in Monaco this week, he said: "Everyone has to take a knock, and when I make a bad decision I have to take it on the chin. Why is the ECB buying these bonds at a discount [to par] and then getting paid full value? "The market knows these things are worth just cents [in the euro], so let's all take the hit together." Mobius said Europe's ec...