'One country will leave the euro this year'
Published 03/01/2012 | 05:00
AT least one country will pull out of the euro area this year as the break-up of the single currency begins, according to the London-based Centre for Economics and Business Research (CEBR).
"It now looks as though 2012 will be the year when the euro breaks up. It is not a done deal yet -- we are only forecasting a 60pc probability -- but our forecast is by the end of the year at least one country (and probably more) will leave," CEBR said.
It added that the likelihood of a euro break-up in the next decade had increased to 99pc.
Ten years after the euro replaced national currencies on January 1, 2002, it has for the first time recorded two consecutive annual losses against the US dollar, while falling to a record low against the yen. (Bloomberg)