Titan Business Insurance looks forward to 2012 with the view that future prospects will be pinned firmly to a resolution of the eurozone crisis and world economic growth.
Titan believes that businesses large and small will have to worry about the situation in Europe and hope that the respective leaders will be able to not only manage the problem, but create a solution. A eurozone collapse would send seismic shock waves across the whole continent and the UK would be buffeted as many financial institutions would struggle to survive.
Looking beyond Europe and the world economic outlook remains uncertain. The US is still in the doldrums, Japan is in recovery mode and many of the developing countries need the West to get better in order to drive their own economies forward.
Chief Executive Officer of Titan Business Insurance, Basil Basil Tsapralis, said:
“As we stand here and look ahead, it appears that 2012 is a crunch year for all of us. There are hopeful signs that things might begin to recover in 2012, or at the very best, not get any worse. For many this is a year when we have hit the bottom in late 2011 and are now starting to climb back out of the abyss.
“But, for us in the UK, it all depends on whether Europe can sort out its fundamental sovereign debt problem. And that needs serious resolve from our leaders, and a willingness to use the European Central Bank as a lender of last resort.”
Titan Business Insurance provides policies for SMEs throughout the UK.