Collapse of the Eurozone ‘will start this year’ as countries pull out of the single currency, leading think tank warns
UK Daily Mail
January 2, 2012
The stricken eurozone will start disintegrating this year and will almost certainly collapse within the next decade, a think tank warned today.
At least one country will quit before the end of the year and there is a 99 per cent chance of a break-up in the next ten years, forecasters at the Centre For Economics And Business Research (CEBR) claimed.
They added that ‘it now looks as though 2012 will be the year when the euro starts to break up’.
Professor Douglas McWilliams, chief executive of the CEBR, said: ‘It is not a done deal yet – we are only forecasting a 60 per cent probability – but one forecast is that by the end of the year at least one country, and probably more, will leave.’
He warned that Britain could already be in a recession and that economic growth is likely to fall in the last quarter of 2011 and the first quarter of 2012.
Greece is ‘pretty certain’ to leave the euro and Italy will likely do the same, Mr McWilliams said.