Difficult year ahead as Eurozone crisis set to continue

European leaders have warned of a difficult 2012, as many economists predict a recession this year.

In their new year's day addresses, leaders from Germany, France, Greece and Italy all acknowledged the tough year ahead.

One fifth of leading economists polled by the BBC said the eurozone would not exist in its current 17-member form, while the majority put the possibility of a eurozone break-up at 30%-40%.

Growth in Europe has stalled as the debt crisis has forced governments to slash spending.

Nigel Cassidy reports.