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You are here: Updates > November 2011 > Richmond Events' Business Panel Report - The Eurozone

Richmond Events' Business Panel Report - The Eurozone


Our latest report is now available on the topical subject of The Eurozone.  

Here are the headline findings and to view the full report please click on the link at the bottom.
  • Asked for their views on the Euro a 69% majority of the panel feel it’s likely to stagger on much as presently.
  • The next highest proportion of 13% feel the Euro will recover and strengthen within one year, whilst 12% feel the polar opposite, i.e. it will collapse within one year.
  • Only one person feels it will strengthen within 6 months, whilst 2% feel it will collapse within 6 months.  Interesting times indeed!
  • Asked about their view of a return to individual currencies for the Eurozone the highest proportion of the panel is indifferent.  Of those with a view over one third believes it would be advantageous to Britain whilst one in five believe it would be disastrous.
  • We then asked if Europe was to regain stability and its former economic strength would the panel favour Britain joining the Eurozone.  Only 14% said yes compared to 63% no, the remainder maybe; never say never.
  • 6% of the panel feel the Eurozone will return to a sustained period of growth within the year.  The highest proportion, 43% feel it will return within 2 years, whilst 41% feel it will within 5 years.  10% admit to having no idea whatsoever! 
  • In terms of banks lending to British businesses, one in five claims it’s not as easy to obtain credit as it was before the recession, whilst 9% say ‘their’ banks have not always been helpful lately.  7% have found it excessively expensive to borrow from their banks whilst 3% admit to having real problems. 
  • Two thirds of the panel believe unemployment will eventually fall; over half the panel feels it will reduce within 2 years and 9% within the year.  Against this, the remaining third cannot see a fall in unemployment for the foreseeable future.
  • Asked for their agreement levels from a series of statements: the most vehement are that British banks should separate their retail functions from the more speculative investment arm, and, that whilst the Coalition promised to slash the numbers of quangos and civil servants, the results so far have been wholly unimpressive.
  • Interestingly over half the panel disagreed with the statement that the Government should relax some of its austerity measures to stimulate the economy.  Just under one third agreed they should.
  • Over ½ the panel agree that Anti-Europe sentiment is increasing in Britain.
  • Almost two thirds of the panel agree that British banks have been insufficiently penalised for their role in provoking the credit crunch.
Download the full report.

For further information please contact David Clark.



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