Sleeping Europe Awakens and Stocks Are About To Explode

Mike Burnick: Europe (NYSEARCA:VGK) finally emerged from its longest recession ever. The 17-country region stretching from Germany (NYSEARCA:EWG) to Greece eked out growth of 0.3 percent in the three months through June. Though some of the member nations are still hurting, any expansion is a relief after six straight quarters of contraction. Click for larger version In fact, ever since Mario Draghi declared that the European Central Bank (ECB) he leads would do “whatever it takes” to preserve the euro and hold Europe together, sentiment has improved. Sure enough, there have been signs here and there of a turnaround before yesterday’s report on gross domestic product, but none so clear. True, Europe’s economy isn’t ready to soar just yet.



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