IN 2012 and 2013, harsh adjustment to a new fiscal reality will be unavoidable, regardless of the path eurozone politicians decide to embark on.

Yet according to Trevor Williams, chief economist for Lloyds Bank: “Right now, there is no crisis in Europe.”

“There has been much fire fighting to keep this at bay. Debt problems seemed to lessen along with the perception......for the full story register now for free or login below...