Laurence D. Fink, chief executive officer of BlackRock Inc., the world’s largest asset manager, said the financial stability of Cyprus will be resolved and U.S. equities will rise 20 percent this year as the economy rebounds.
“It has some symbolism impact on Europe, but it’s not a really major economic issue,” Fink said of Cyprus in a Bloomberg Television interview in Hong Kong today. “It’s a $10 billion issue. It does remind us of the frailty of Europe. It does remind us that the European fix will be multiple years.”