What do you do when you can’t solve a problem? One approach is to give up, declare victory and go home. This appears to be what European leaders did at their summit meeting in late June.

We’re not saying that their latest plan (what number is it – 10? 20? 40?) won’t work, but this distressed investing blog wouldn’t bet the ranch on its success. That said, we think there could be good turnaround investing profit potential in European stocks when the continent does begin to recover.

We’re just not too sure when that recovery will occur. For that reason we like European stocks that pay good dividend yields. Those yields reduce the volatility in the stocks and will pay you something even if you have to wait a while for the stocks to move up in price. More specifically, the July 2012 issue of Turnaround Letter names 10 European-based stocks with generous dividends.

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