Play BlackRock CEO Fink on Global Economy, Markets Laurence D. Fink, chief executive officer of BlackRock Inc. (BLK) , the world’s largest asset manager, said Cyprus is not a major problem 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.”

Cyprus is the fifth euro-zone country to seek a bailout since 2010 to avoid a collapse of its financial system. Its parliament yesterday rejected an unprecedented levy on bank deposits , dealing a blow to European plans to force depositors to bear part of the rescue burden in a standoff […]

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BlackRock’s CEO Fink Says Cyprus Is Not a Major Problem

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