It’s hard to imagine that news from the eurozone could get any worse. We have grown used to terrible numbers out of Greece, Italy and Spain. In the last year, France has joined its declining economies. And now even Germany is suffering.
In the latest quarter, the German economy shrank by 0.2%, partly due to Russian sanctions, and it looks unlikely to recover strongly anytime soon. The zone appears locked into permanent zero growth.
Usually, investors would avoid that like the plague. Zero-growth economies have zero-growth companies – and companies that don’t grow make for a stock [...]