Theodora Zemek, head of fixed income strategy at Neptune Investment Management, has warned the UK's exit from the European Union has distracted investors from the long-term structural issues Europe faces.
Speaking to Investment Week in her first interview since joining Neptune in May, Zemek pointed to the weakness of the banking system, political tensions in Italy and the need for a system of creating fiscal transfers. The fixed income strategy head, who previously held senior roles at AXA Investment Managers and M&G Investments, added the continent would struggle to support the weaker economies in a recession, especially without the UK as a net contributor. According to the Office for National Statistics, the UK contributed an average of £9.4bn a year between 2012 and 2016 to the Euro...
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