Recession fears are dominating talk at the World Economic Forum underway in Davos, Switzerland. Will Europe continue to resist lowering interest rates even if it means the risk of a full-blown recession?

I think the ECB is behind the curve, says Tim Seymour. Interest rates in developed Europe are a lot higher than they are in the US.

So far Europe has been reluctant to cut rates, he says. Part of the issue is that there are conflicting views across 9 or 10 countries driving divergent points of view. Germany had been quite dominant and they’ve been very cautious about inflation.

If the ECB does cut interest rates I think the play is Turkey. Look at both Turkish Investment Fund (TKF) and Turkcell Iletisim Hizmetler (TKC), he counsels.

Lose That European Attitude

TKF

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TKC

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