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FT: Why the eurozone will defy sceptics in 2017

“Europe is just uninvestable” says a fund manager at a dinner in Mayfair, “with [Marine] Le Pen in France and Brexit, there is just too much political risk.” The others in the room nod, in silence.

The case for investing in the eurozone has never been harder to make than in 2017. The forthcoming calendar indeed looks like a political minefield. Anti-euro candidates are gaining ground in the Netherlands and France. The UK is about to start its Brexit split, while Greece’s Syriza government is struggling to agree on a deal with creditors. Against this backdrop, investors often decide to give up on Europe altogether. We have not.