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CFOs fear euro break-up

The break-up of the euro is the single biggest threat to UK business in 2012, according to a Deloitte survey of FTSE 100 CFOs.

Britain’s top finance chiefs predict, with a 37% probability, at least one eurozone country leaving the single-currency before the end of this calendar year. The mood was summed up by one finance director, who conceded: ‘Everyone is waiting for something very bad to happen.’

In addition, over half of finance directors expect the UK to fall back into recession in 2012, after reporting the sharpest decline in credit availability since the third quarter of 2008 when the financial crisis began.

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