Real Support S.L Discuss The Scary Reality That Eurozone is 'Heading For Recession In 2012'

Jan. 19, 2012 - PRLog -- http://news.sky.com/home/business/article/16130705

The audit firm said it expects the economies of the 17 member countries to shrink in the first two quarters of 2012. The report predicts growth of just 0.1% for the whole of the year and warns unemployment in the Eurozone is unlikely to fall below 10% before 2015. Support Real S.L is saddened by these grim results with the Managing Director saying, ‘this does not give much hope the countries involved but it is important to stay positive and work hard to ensure that there is some growth. Even though so many MD’s are expecting the worst for their business in 2012 here at Support Real S.L. we are exciting for the growth we can expect for 2012!’

The survey compiler said the slight improvement was down to strength in France and Germany, with peripheral Eurozone economies still struggling.
Last week, 26 of the 27 members of the EU backed new fiscal rules to keep budgets in line, with only the UK abstaining. But just days later, cracks have begun to emerge as drafting of the pact begins, with some countries already airing concerns. ‘This is not a good start’ continues the MD of Support Real S.L.

Many also fear the pact will still not be enough to prevent more countries from needing a bailout like Ireland and Greece. The euro fell to an 11-month low on the back of the concerns on Wednesday, dropping below $1.30 (84p) for the first time since January, while gold - usually seen as a safe -haven for investors - lost 3.5%, before stabilising. To many that follow what is happening with the world economy, there seems to be no good news. Support Real S.L. managing director comments saying, ‘I think the key is to focus on individuals doing their part and if everyone does that the overall result will be more positive. Focusing on what is not happening and what is bad does not help anyone find a solution.’

"The reforms agreed at the summit on December 9 were a step in the right direction and the response seems to have been mildly positive," Ernst & Young said. It added: "Investors remain very concerned about the commitment and ability of Eurozone governments to implement reforms quickly." Nonetheless, the leading economist and chairman of Goldman Sachs Asset Management has expressed his confidence in the single currency.

In a lecture to the Royal United Services Institute in London, he said: "I am clear that the single biggest strategic risk facing the UK today is economic rather than military.
Ernst & Young agreed that problems in the Eurozone have impacted the UK but said the worst may be over for Britain. Marie Diron told Sky News: "The Eurozone is the main trading partner for the UK so it is in the interest of the UK that the Eurozone is stable and growing and what we see is that the UK will probably see weak growth next year. There is always a ripple effect when it comes to economic fluctuations. The Managing Director of Support Real S.L. comments saying, ‘there is definitely a lot of room for improvement and here at Support Real S.L. we will definitely do our part to ensure growth within our company and that will of course have a ripple effect.’