This Is Going To Be The Big Economic Story Of 2012

Euro crisis is far from over - what the experts are saying Photo: Larry Lilac / Alamy

Eurozone Debt Crisis: Leaders Warn Of Dangers Facing Economy In 2012 -- The Telegraph

Eurozone leaders used their New Year's message to highlight the dangers facing Europe's economy in the coming 12 months.

German Chancellor Angela Merkel said she expects turbulence in 2012 as she does "everything" to save the euro and end Europe´s sovereign debt crisis.

"The path to overcoming this won´t be without setbacks but at the end of this path Europe will emerge stronger from the crisis than before," Merkel said in a New Year´s television speech yesterday. She also said 2012 "will no doubt be more difficult than 2011".

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My Comment: The sovereign debt levels in Europe are now coming home to roost .... heaven help the tax payer who must now rescue us from this disaster.