Whatever happens to the euro, European stocks look cheap

The latest euro crisis is playing havoc with the markets. But if you can look beyond the immediate chaos, there are some real bargains to be had among the Continent's stocks, says John Stepek.

Every Bank Holiday weekend, I half expect the Europeans to sit down and do something about the eurozone crisis while everyone else is out of the office.

It would probably have been a bit rude to distract from the Queen's Jubilee this weekend by slinging Greece out of the eurozone, or deciding to print bucket-loads of euros, or both. But it'd have made markets a lot cheerier this week.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.