Former Goldman Sachs economist Jim O’Neill shared his market views on CNBC’s “Squawk on the Street” Tuesday.
On UK Prime Minister Theresa May’s snap election call: “I think it’s pretty opportunistic politics to be honest. You look at the latest opinion polls, her party, the Conservative party is significantly ahead of the main opposition, the Labor party, in the polls, and given that they have a very small majority currently in the house of Parliament, and the complexities of Brexit, as well as other things that she wants to or appears to want to do,” O’Neill said. “I think she’s having to look at the numbers and thinking do I want to have this constant hassle of various people trying to battle with me on everything. Let’s go for it.”
On the important of the French election to the euro: “Throughout the euros long existence, I’ve always [told] myself that the only end to the euro [is] with France because it’s in many ways a French creation,” he said. “Arguably the euro was created by Germany and France initially to avoid the horrors of the past of Europe.”
O’Neill is a former UK Treasury minister and the former chairman of Goldman Sachs Asset Management.
He also discusses:
- Pound and the dollar.
- Global equity markets.
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