- Dennis M. Nally, Chairman of PricewaterhouseCoopers International
The Eurozone economy is widely expected to start gaining momentum this year, albeit slowly, as the sovereign debt crisis looks to be contained, a number of CEO'S said at the World Economic Forum in Davos, Switzerland. More than a third of all CEO's are confident about their company's growth prospects during the next 12 months. The figure is down from the previous year's 40%, while still better than the lows of 31% and 21% in 2010 and 2009, respectively. In the meantime, since last year's Mario Draghi's pledge to do whatever it takes to save the shared currency, the bond yields of indebted Eurozone countries have fallen significantly and stock markets have rallied. However, the International Monetary Fund has warned again of a weakening global economic recovery despite all efforts by governments to boost economic growth.
"CEOs remain cautious about their short term prospects and the outlook for the global economy. However, given the high levels of concern among CEOs about issues - such as over-regulation, government debt, capital market instability - it is no surprise that CEO confidence has declined in the last 12 months," said Dennis M. Nally, Chairman of PricewaterhouseCoopers International. "We find CEOs working to deal with the ongoing risks."
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