View more on these topics

Mark Mobius: Three things Greece must do to tackle deficit

Franklin Templeton emerging market specialist Mark Mobius says Greece does not necessarily need to raise taxes to tackle its deficit.

Mobius says the Greek government has to make “some giant steps towards reform”, citing three areas for them to focus on.

He says: “This means privatisation of state-owned enterprises that have been a drag on productivity and government finances, collection of taxes that are owed but not paid, and reducing the size of the government.

“If those three measures are taken, in my opinion there should be no need to actually raise taxes.”

Mobius says that entrepreneurship should be encouraged and Greece has very strong tourism and shipping industries, which can be the launching pad for growth in the future.

He says that as a result of the problems in Europe, he is finding Eastern Europe a good hunting ground for companies.

“Eastern Europe of course has been affected by what’s happening in the rest of Europe. We are finding a lot of the opportunities there from companies where valuations have dramatically wiped out, many unfairly, and provide opportunities for long-term holdings,” Mobius says.

Mobius says that despite emerging markets reducing exports to the US and Europe, economic problems in the US and Europe “could still bear a significant impact.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com