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There Will Be No Hollywood Ending in Europe : CIO

Tuesday, 3 Jul 2012 | 3:15 AM ET

"We are still in this Titanic tug of war between very slow growth in the developed world and frankly recessionary dynamics in Europe and what kind of actions we see from the policy makers, it will be interesting to see if the ECB cuts rates," Alex Friedman, CIO at UBS Wealth Management, told CNBC.