The main results of the survey show that while the majority of those polled see recession as their main concern, they also view the credit crisis as an opportunity to buy quality assets cheaply. This sentiment was echoed by Mark Mobius, Managing Director, Templeton Asset Management, who said: “Bull markets go up more than bears go down. Now is a good time to start looking for bargains.” Furthermore, most believe that the Eurozone will grow faster than the US in the coming year.

The main findings of the survey were:

– 85% believe current crisis will continue for the next 12 months

Additional findings from the survey revealed that credit availability was a concern for 29% of respondents and 57% had experienced less availability in the past three months. Delegates were also less than impressed by the efforts of central banks in handling the credit crisis, with just 13% agreeing that the crisis had been managed very well.

Tom Leander, EuroFinance, commented: “A record number of delegates are attending this year’s conference, suggesting a strong appetite for sharing ideas and problem solving in light of the current crisis. Concern about recession is uppermost in their minds and the majority believe the crisis will last well into 2009. However, the vast majority believe that the crisis presents buying opportunities, with larger businesses being well placed to take advantage of this, providing they have the flexibility to move quickly. Views on the Eurozone are also optimistic with the majority expecting faster growth in this area than in the US in 2009, although US government actions will be a determining factor in this. There is also an expectation by most delegates that interest rates in the Eurozone will be lower next year.”

EuroFinance surveyed over 1000 delegates following the opening plenary discussion on liquidity and risk. Delegates responded to a series of questions regarding the impact of the current credit crisis and casted their votes using an electronic voting system.