BlackRock’s Fink Says France ‘Structurally Uncompetitive’

BlackRock Inc. (BLK)’s Laurence D. Fink said if the euro currency region falls apart it’s more likely to be caused by a lack of competitiveness in France than by economic troubles in Italy or Spain.

“France’s competitiveness has continued to be worse versus Germany,” Fink, chairman and chief executive officer of the world’s largest asset manager, said today at the Economist’s Buttonwood Gathering in New York. He called France “structurally uncompetitive.”

Fink said it’s better to have Greece as part of the euro area because a separation would be costly.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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