Is International Diversification Still Valuable?

Europe is no one’s favorite region right now. We are two years on from the euro crisis of 2010-2012 where interest rates on government debt from Portugal to Ireland went through the roof. Now European growth is lurching, once again, closer to negative territory at a time when the US recovery appears on track. Germany seems the most recent victim to expectations of lower growth, but countries from France to Greece are experiencing variations on this theme. This raises the issue of whether inter...