Most of the top economists that were surveyed by the BBC have a firm belief that recession will again hit Europe by the year 2012.
Twenty percent of them said that the European Union will cease to carry on with its 17 members as recession creeps in while the majority of them said that there can be a EU break up at 30 percent to 40 percent.
According to the BBC survey, there are also more economists who feel that the UK interest will still be at 0.5 percent for the whole year of 2012.
The BBC survey was done with 34 UK and EU economists who have strong and regular connections with the Bank of England. There were 27 of them who responded to the survey, and 25 of them said that EU will undergo recession in 2012.
Economic growth in the eurozone has become slow in pace in the last few months as the debt crisis in the region has put governments in a position to put measures in place that affected spending as well as confidence in the markets.
The eurozone economy has gone up by 0.2 percent for the third quarter of 2011. The rest of the region grew collectively by 0.3 percent.
Economic growth in the United Kingdom was only at 0.6 percent during the third quarter of this year. However for the last quarter of 2011, economic growth was deemed as flat by the economists and other analysts.
According to the CBI business group, 2012 can be the start of a much better future should the “pain of the deficit reduction” be passed as soon as possible.
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