Outlook In recent months, as first Ireland, then Portugal and Greece, have been bailed out by their European partners - and others - rather than be allowed to default (with potentially damaging consequences for the euro and the Eurozone), many column inches have been devoted to whether or not the European Community and its currency will survive, and if so, in what form. History tells us that currency unions have been tried before. In Europe we had the Snake, the European Monetary System (EMS), and the Exchange Rate Mechanism (ERM) - where are they now? By contrast Bismarck founded the Reichsbank in 1875 to provide a common currency across all the German states, and his creation survived hyperinflation and two world wars and became the stolid and trustworthy Bundesbank - but thereafter Germany adopted the euro. The CFA franc zone, which includes the former French colonies of West and Central Africa, started life in 1945 and still exists. By contrast the Latin Monetary Union (LMU), another French initiative covering France, Belgium, Italy, Greece and Bulgaria, lasted for much of the nineteenth century but failed when some members, notably the Papal State, began to debase their currency. Your Company has in general eschewed investment in the weakest of the European periphery members, and will continue to invest in outstanding companies with worldwide franchises and first-class managements, as it has done successfully hitherto.
Jupiter European Opportunities Trust's net asset value per share rose by 36.3% in the year to the end of May. This compares with a 24.2% rise in its benchmark, the FTSE World Europe ex UK Index. At 4:30pm: (LON:JEO) Jupiter European Opportunities Trust share price was -8.5p at 232.75p
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