UK Firms Exposed to EU Referendum and UK Elections

July 7, 2014 Share Print 0

A proposed referendum on EU membership and the upcoming general election are among the biggest risks facing financial chiefs of the U.K.’s top corporates, a Deloitte survey revealed on Monday.

Concerns created by politics have overtaken worries over economic uncertainty, with the U.K. general election in May 2015 and uncertainty surrounding the country’s membership of the European Union (EU) topping the list of risks felt by chief financial officers (CFO) of Britain’s largest companies.

An improving macroeconomic picture in the U.K. as well as green shoots of recovery in the euro zone, have contributed to higher economic confidence levels among CFOs with less than half of the 112 finance heads worried about asset bubbles or a renewed euro crisis. Only 7 percent of CFOs fear the euro breaking up, the lowest reading since 2011.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.