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Euro break-up 'to begin this year'

Almost 170 Irish companies collapsed every month in the first 11 months of 2011 owing €1.2bn (£1bn) in unpaid unsecured debt, according to new figures from the business intelligence analyst Vision-net.

AT least one country will pull out of the euro area this year as the break-up of the currency begins, according to the Centre for Economics and Business Research. "It now looks as though 2012 will be the year when the euro breaks up. It is not a done deal yet but our forecast is by the end of the year at least one country will leave," it said.