La Banque Postale shows faith in euro

Dublin: La Banque Postale Asset Management, France’s fifth-largest money manager by assets, bought Irish and Spanish bonds last month as it bet European leaders will succeed in preserving monetary union.

“The process is chaotic and volatile but we still believe that the eurozone will survive,” said Rachid Medjaoui, deputy chief investment officer at the company, which manages €126 billion. “The optimistic side on the eurozone has become very strong for many weeks.”