Brough: Europe could ultimately benefit from euro collapse
Schroders’ Andy Brough believes an eventual collapse of the euro would not be the Doomsday event many fear and could be the best scenario for many nations on the Continent.
Brough, manager of the £1.7bn Schroder UK Mid 250 fund, says the continued intervention by the eurozone bloc in trying to defend the single currency is strikingly similar to the actions made by the Bank of England before sterling left the Exchange Rate Mechanism in 1992.
"I remember sitting in a meeting and someone put their head around the door and said the Bank of England just put interest rates up to 15% to try to defend the undefendable," he told Bloomberg Television.
"Everyone said it would
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