20 Nov '11, 1am

UK businesses see euro crisis as biggest challenge

LONDON: More than two-thirds of business leaders in Britain believe the eurozone debt crisis will be the biggest challenge facing the country's economy next year, an opinion poll showed Sunday. Seventy per cent of business chiefs believe the euro crisis is "the biggest single factor likely to impact on the UK economy in 2012," showed the poll for the Confederation of British Industry (CBI), Britain's biggest business group. The finding echoes the coalition government's insistence that the eurozone crisis, rather than its programme of public sector cuts, is responsible for the darkening outlook. Last week, the Bank of England slashed its growth forecasts for 2012 and figures showed that the jobless rate hit a 15-year high in the three months to September. In Sunday's survey, 67 per cent of the 122 business chiefs questioned also cited the "possibility of a further banking c...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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