Davos elites fear weakened EU

Davos, Switzerland

FEAR of a severe weakening of the European Union (EU) is the hot topic in the corridors and executive suites of Davos this year with business leaders and politicians at the World Economic Forum (WEF) alarmed at closing borders and the risk of a British exit.

For three years from 2010 to 2012, bankers and corporate chiefs fretted about the danger of a break-up of the single currency at the heart of the 28-nation bloc, until the European Central Bank said that it would do whatever it took to preserve the euro.