â¢ Survey reveals 74.2% of treasurers confident in effectiveness of corporate financial policy in shielding companies from financial consequences of Euro split
â¢ Nearly 80% of treasuries will accommodate Euro split with three monthsâ notice
A new survey of corporate treasurers conducted last week reveals that more than half â 53.5 percent â of corporate treasurers believe that the Eurozone will split within the next twelve months. The survey, conducted by IT2 Treasury solutions, also shows that 74.2 percent 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.
âThe 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-upâ explained Kevin Grant, CEO of IT2 Treasury Solutions. âThe 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.â
The survey was conducted anonymously, using a sample of 75 senior treasury professionals at the IT2 Treasury Solutions Global User Conference in London on the 18th of 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 âdisorderlyâ exit from the Euro.
âItâs even more encouraging that 78.5% of treasurers believe that their companies can accommodate a Eurozone split, in financial and operational terms, with less them 3 months noticeâ concluded Grant. âTreasurers manage not only finances but financial infrastructure. Itâs a testament to the robust, transparent systems they employ and the level of insight that treasurers using IT2 have into Eurozone financial exposures.â