The European economy will continue to stabilize albeit slowly this year as the euro zone crisis looks to be contained, a number of CEOs told CNBC at the World Economic Forum in Davos, Switzerland.
Nils Smedegaard Andersen, Group CEO at shipping company A.P.Moller -Maersk Group said he believed the euro zone was heading in the right direction.
"We see a gradual stabilization in Europe and the political tendencies are going in the right direction," Smedegaard Andersen said.
Tidjane Thiam CEO at insurer Prudential struck a similarly optimistic,but cautious note, warning that Europe was not "out of the woods."
"I'm more positive than I was a year ago and Europe feels much better than it was," Thiam said.