The Economist: Be Afraid! Bloomberg: Crisis in Europe will lead to economic collapse
The Economist predicts a grim future for 2012. Credit:facebook/the economist
Europe crisis will lead next year to financial and economic collapse and social unrest, according to analysts surveyed by Bloomberg. The survey was conducted among 1031 investors, analysts and traders from worldwide.
At least one country -member of the eurozone- will forfeit the Euro currency in the next five years, 72% of the analysts anticipated. Eurozone recession will come in the next 12 months, most of the economic experts said. Furthermore the European crisis will negatively affect the entire world economy next year.
“It’s a serious crisis. Since the comeback issues in Greece, there appeared a kind of confidence crisis with impact on markets and economies. Politicians need to act quickly,” said Jean-Yves Chereau, a surveyed member and investment director with the company Halkin Investments in London.
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Because of the crisis, 56% of those interviewed intend to reduce their exposure to the euro flaw in the next six months.
The Economist published on Facebook a grim preview of October 1 issue: “Be afraid” is the title of the publication. “Until politicians actually do something about the world economy….BE AFRAID,” writes The Economist.
The European Commission announced on Thursday a confidence decrease with respect to the economy. That was more than analysts’ expectations and the lowest level since December 2009.