EUROZONE WILL SPLIT IN FIVE YEARS, SAY HALF OF INVESTORS
David Cameron said the crisis was partly to blame for Britain falling back into recession
Saturday May 5,2012
By Natalie Chalk
ALMOST half of investors believe the eurozone will break up within the next five years.
Forty-two per cent predict the 17-member group will not exist by 2017.
Just 37 per cent think the single currency will survive, according to a survey by Lloyds TSB International Wealth.
Almost half (46 per cent) expect two or more countries will leave the eurozone in the next 12 months, with two-thirds of these predicting Greece will be one of them.
This low confidence comes days after David Cameron warned that the eurozone debt crisis was less than halfway through.
Earlier this week the Prime Minister said the crisis was partly to blame for Britain falling back into recession and insisted that getting the economy moving again was the biggest issue for the Government.
He said: “What’s happening in the eurozone is a massive tension that countries are finding very difficult to adapt to. So I don’t think we’re nearly halfway through it. I think it’s going to be a very long and painful process as they work out whether they want a single currency with a single economic policy or whether they are going to have something quite different.”
That’s what I get out of bed to do every day
Mr Cameron added that getting the economy growing again was his top priority.
“This is the thing that drives me – getting our economy moving, getting jobs for hard-working people, and making sure that when people work hard and do the right thing they get rewarded.
“That’s what I get out of bed to do every day.”