Corporate Treasurers Banking on Eurozone Split, Finds IT2 Survey
A recent survey of corporate treasurers reveals that more than half (53.5%) of corporate treasurers believe that the eurozone will split within the next 12 months. The survey, conducted by IT2 Treasury solutions, also shows that 74.2% of corporate treasurers are confident that corporate treasury policy already in place is positioned to protect corporates from the financial consequences of a eurozone split.
“The survey shows that treasurers believe, on balance, that the eurozone will split within the next 12 months. They understand the risk, and believe that their financial exposures are at present sufficiently managed and understood to enable them to weather the financial consequences of a break-up,” saidKevin Grant, chief executive officer (CEO) of IT2 Treasury Solutions. “The fact that treasurers are so confident in the capacity of existing policy to mitigate such financial exposures is a measure of the strategic insight that corporate treasury can bring in a period of significant uncertainty.”
The survey was conducted anonymously, using a sample of 75 senior treasury professionals at the IT2 Treasury Solutions Global User Conference in London on 18 November. It also addressed the time that treasurers felt they would require to accommodate a split in organisational, technological and financial terms, an area of significant uncertainty given the prospect of a ‘disorderly’ exit from the euro.