Even as European markets have clawed back losses from March lows, which have been the correction people were calling for, Nick Parsons, head of markets strategy, National Australia Bank, feels that investors might just be eager to take profits after the interest rate cut from the ECB and positive German factory orders. Nick also says that it may be a good idea to give France two extra years to bring down deficit to the 3 per cent ceiling, because it may result in a slackening in the pace of economic reforms.
