Among the CFOs who did foresee an outcome, more U.S. respondents felt the actions would be insufficient to prevent further instability and ultimately lead to one or more countries leaving the Eurozone (41 percent of total respondents), while 35 percent of European CFOs felt that the outcome would be successful in stabilizing the debt crisis and ultimately help further integrate the Eurozone.
The majority of CFOs shared their belief that China is a sound competitor (65 percent of U.S. CFOs and 61 percent of European CFOs), but their current activity with the country varied by region. In the quarterly survey, U.S. CFOs stated that generally their companies are not currently doing business with China (64 percent) while close to a third (33 percent) either sell or produce in China. In contrast, 43 percent of European CFOs stated that they currently do business with China, split evenly between those that sell to China and those that produce in China.
U.S. respondents believe that the U.S. dollar exchange will strengthen against the euro and the pound in the next six to 12 months, while weakening against the Yen during the same time period. In Europe, CFOs on average expect the exchange rate to remain relatively unchanged.
