Top CV Writting Tips - To Make your CV Rock

If you're keen to get ahead in your chosen career, then you need to make sure your CV is as strong as possible. Competition for the best roles is incredibly high and many employers will simply skim CVs to see which ones stand out. Others will disregard otherwise strong CVs for having basic errors in them. So don't risk being overlooked and follow our simple CV writing tips to improve the impact of your CV now.

CV Tips - Spelling and Grammar

CV writing is an art form and yet many people spend ages perfecting their prose without using their spell check. Even if the content of your CV is otherwise excellent, many recruiters will form a poor opinion of a candidate who is sloppy with presentation and grammar. It will suggest that your attention to detail is not good and that you struggle with written communication. 

Fix this simple error by ensuring that you carry out a detailed proof-read several times before submitting the finished version. Ideally, get a friend to read and check it too. And if you are still in doubt, consider using professional services such as Circle Square for the desired professional finish.

Vague Objectives in your CV

If you have clearly written your CV using a template and been vague in your personal statement and career objectives, the recruiter will think you are either scatter-gunning your CV out left, right and centre or you simply aren't sure of your skillset and ambitions. Avoid generic phrases and meaningless corporate jargon and employ descriptive language that explains your career goals.

Poor Formatting

Many recruiters will become cross-eyed with the volume of CVs they read. If the font is too small, the content cluttered or the presentation poor, they may simply give up and dismiss your hard work. Keep it as short as possible, ideally one page or two as a maximum and write concisely. There are plenty of formats available online, or you can use the services of a professional CV writing agency to ensure that your CV is presented to perfection.

Your CV Isn't Tailored to the Job

A template CV won't interest an employer. They will want to see that you are genuinely passionate about the job in question and keen to get into the company. You'll be overlooked in favour of other candidates who have tailored their CV to exactly match the job description and have shown their interest in doing so. Equally, by failing to incorporate the keywords used in the job description, you will find that automated software may reject your CV. So take the time and show your diligence in your application.

Actions and Accomplishments

Recruiters want to know what you have achieved in your role, rather than what you do each day. So don't simply list your jobs describe the achievements, results and company benefits that you have created through your efforts. This will interest the employer and illustrate your value in a graphic way.

Providing Too Much Information in your CV

Don't put details of every single position that you've ever worked in. Emphasise the outstanding accomplishments, skills and responsibilities and allow the recruiter 'space' to pick out the highlights. Show that you have the accomplishments and skills needed to do the job, but make sure that there are no gaps in your employment.

Incorrect Contact Details

This seems obvious, but it's a very common mistake. Many candidates submit old CVs to recruitment agencies and fail to put the correct contact details on it. Most recruiters don't have time to follow up and hunt you down. So check the basics carefully and provide a few routes to get in touch.

Incorrect References

Again, ensure that this information is accurate and that your listed referees are people that you would want to approach and ask for an assessment of your suitability for the role. A great reference from a former manager can be very powerful indeed. Recommendations from a former peer or colleague can be equally impressive. Make sure that their contact details are correct.

Failing to Include Interesting and Relevant Information. Don't just necessarily list your most recent roles - think about earlier jobs or responsibilities that show an interesting skillset that the hiring manager is likely to value. For example, telemarketing and sales might not be necessary for the job in question, but they can suggest that you have resilience and negotiation skills, which are ideal for the industry as a whole.

Creating the CV in an Unusual File Format

If you write your CV using Word, you run the risk that the recruiter is using a different version and this can cause difficulties. This is even more problematic if you use other word-processing programs. Always send your CV as a PDF file if you can.

Written by Adam Tachauer of Circle Square Talent

Other relevant  articles:

Interview Tips   Writing a Covering Letter    Common Job Interview Questions       

MBA`s what`s the real cost?     Answering Interview Questions    Resignation Advice

Moving on from Redundancy to a Better Career     Working whilst you study - Part-Time Jobs

Your new Job and the Probationary Period      Improve your Career By Improving your Contacts   

To search our current jobs

Accountancy & Finance Jobs   Private Equity Jobs  Capital Markets Jobs

Venture Capital Jobs   Real Estate Jobs   Interim & Temporary Jobs   Corporate Finance Jobs

To contact one of our specialist consultants call 0207 492 0700 or email: enquiries@circlesquare.co.uk

To download the Finance & Accountancy Salary Guidelines 2015             

If you would rather view the salary guide online: Accountancy & Finance Salary Guide 2015

Tips on Choosing Your Next Employer in Accountancy or Finance

• It happens to us all at some stage. Whether we're at the start of our career, ready for a second strategic move into management, mid-way and seeking new
• challenges in a directorial or consultancy role or considering a sideways move into a specialist financial profession, it's only natural to be looking for the next career opportunity. 
• The right move will help to consolidate your existing experience and learning, offer a new step along your chosen career path and open up fresh opportunities. But to make sure
• that you really do pursue the right job openings, it's worth thinking about your personal drivers and position beforehand.

Research Finance & Accountancy Job Opportunities

• Find out what types of benefits and business opportunities are being offered at the sorts of employers you'd consider working for. It's also well worth considering what the core values of
• your next employer would be and how it ranks in terms of employee satisfaction and engagement. 

• This is because your work experience is far more than simply the monetary compensation you earn for your time, effort and skills. Your work fulfils a range of social, belonging and
• achievement needs, so you need to find an employer that will fit your own needs.

Target Firms - Are They the Right Cultural Fit for You?

• Measuring tangible benefits and salary packages is easy, but the element of corporate culture can be difficult
• to get a sense of, particularly from recruitment marketing materials. To get a sense of whether you would find a happy fit at a particular company, ask plenty of questions. 

Research Potential Finance & Accountancy Employers Work Culture

• Do online research to find news stories, case studies, awards and annual updates that will also provide you with interesting information. For example, a corporate social-responsibility
• programme can show a commitment to the more holistic side of business and offer a well-rounded employment experience. 

• International offices and a tendency to promote from within can suggest great opportunities for advancement. And a culture of innovation and empowerment suggests a lively and thriving
• working environment, where you will receive good rewards and experience the benefits of healthy employee engagement.

• If you're not sure which career move would best suit your skills and experience take a look at our Finance & Accountancy Job Profiles: CFO Job Description    
• Finance Manager Job Description    Project Accountant Job Description  Financial Accountant Job Description    Financial Controller Job Description    Management Accountant Job Description

We have also tailored advice on finance & accounting qualifications and career options - ACCA Qualification  ACA Qualification  CIMA Qualification  CPA Qualification  CA Qualification

Career Options - ACA Careers   CIMA Careers    ACCA Careers     CA Careers    CPA Careers

Our Finance & Accountancy Salary Survey 2015 is now available.

• 
  

  Interview Tips   Writing a Covering Letter    Common Job Interview Questions       

  MBA`s what`s the real cost?     Answering Interview Questions    Resignation Advice

  Moving on from Redundancy to a Better Career     Working whilst you study - Part-Time Jobs

Accountants More Trusted Than Bank Managers for Business Advice

The news that people are more likely to trust their accountants for business advice, more than their bank manager was published on Accountancy Age's website last December. Read the full article here. This seemingly small story was then "shared" via LinkedIn, "retweeted" on Twitter and "liked" through Facebook over 2000 times. The full research findings which are part of the Sage Omnibus survey, Written by Jim Scott the Managing Director of Sage Accountancy division. To read the full report: Sage Guide to Pulse Survey

Why Are Accountants Held in Higher Esteem as Business Advisors Than Banks? 

Why would it be that wise words from an accountant are held in higher esteem than the advice given by banks? Well, it's no secret that banks have been struggling in the last few years. The public have had their trust shattered with news of government bailouts alongside huge personal bonuses still being handed to bankers. 

The banking Crisis has hit Everyone.

Add to this the deep public spending cuts being introduced by the government and the press informing us just how much the banks have cost each one of us. The public is now very wary of trusting banks, deemed as the cause of our struggles, as business advisors. Accountants are being turned to as a more trusted source for business advice.

Accountants have also been given a hard time Over the Banking Crisis 

As auditors they have been accused of not doing enough to see the warning signs. Accountants might have turned a blind eye so have even been accused of complicity in the banking crisis. Accountants have also been criticised for their large fees and for the way they help multinationals deal with their tax affairs.

Are any of these issues straightforward? Of course they aren't. Accountants argue their role is to do the bidding of their customers within a legal framework as well as a contractual one. They claim the criticism of them is usually from badly informed politicians who are looking to deflect the spotlight from their own inadequacies.

The Banking Crisis is Causing a Lot of Firms to Change Direction. 

They are not as likely or even willing to dance around legislation with the HMRC as they used to. The general mood is that it is not the way you do business anymore.

Some have commented that accountants are simply relieved they are more popular and more trusted than bankers.

Without Accountants, Auditors and Tax Advisors, the HMRC Wouldn't be able to Operate. 

Businesses and individuals would have a difficult time preparing their accounts. Creditors too would end up with less without the support of experts in the field.

People in the Accountancy industry should be very proud of their work because they are doing a very important job. Recognition of this fact through events such as British Accountancy Awards can only help.

Accountants More Trusted Than Bank Managers for Business Advice

Written By Adam Tachauer of Circle Square - To search all of our current jobs

If you are looking for a Finance or Accountancy Job our dedicated career advice section or more information on our finance & accountancy recruitment.

If you're not sure which career move would best suit your skills and experience take a look at our Finance & Accountancy Job Profiles: CFO Job Description    Finance Manager Job Description    Project Accountant Job Description    Financial Accountant Job Description    Financial Controller Job Description    Management Accountant Job Description

We have also tailored advice on finance & accounting qualifications and career options - ACCA Qualification  ACA Qualification    CIMA Qualification     CPA Qualification    CA Qualification

Career Options - ACA Careers    CIMA Careers    ACCA Careers    CA Careers    CPA Careers - Our Finance & Accountancy Salary Survey 2015 is now available.

Related Posts: Accountancy Graduates on the Increase    The Areas CFOs Should Be Concentrating On  Financial Markets Point to More Positive Future Job Market    Which Accountancy Qualification for Banking?Increasing Pay Levels for Accountants    Advance Your Career in Accountancy & Finance with Personal Branding

Business Start-Ups on the Increase due to Rocky Job Market

The jobs market is still distinctively rocky and a more stable future is not looking likely any time soon. This has led an increasing number of people to head out on their own, start-up a business and become entrepreneurs. Are these just brave people taking a chance in life or is the entrepreneurial path one that more of us should be following?

When employees felt fairly stable in their chosen careers  becoming an entrepreneur was seen as a risky move. However, if you've already been made redundant, setting yourself up in business could give you the opportunity you need. There's no to risk to your job if you've already lost it.

The Increase in Business Start-ups….  Entrepreneurs

2012 was the year of the start-up enterprises, with the first increase in the number of new small businesses since 2008, according to the Centre for Policy Studies. Does this mean that we're heading towards a society of brave entrepreneurs? Research from the Global Entrepreneurship Monitor indicates that we could be, with 20% of working-age people seriously thinking of starting up their own business.

In 2011, 7.3% of people started their own business, an increase from the 5.7% of 2009.

The Government Wants to Help

To help facilitate this entrepreneurial spirit, the government has created a number of schemes to provide better and easier access to financial assistance. They've allocated a total of 100m to help small businesses and also offer tax incentives for both investors and business owners.

Tax relief is available for companies that spend money on certain research and development (R&D) projects. This can help smaller businesses reduce their Corporation Tax liabilities by offering relief on up to 200% of the associated costs. There is also a new scheme that comes into effect from this April which will allow some businesses to pay a 10% rate of Corporation Tax. The Patent Box Scheme will see profits from projects related to intellectual property and patented inventions being subject to the lower rate of tax.

The government is encouraging investors to finance new entrepreneurs. 

The Seed Enterprise Investment Scheme offers tax relief to investors who buy shares in fledgling companies. This is designed to help the newest and smallest businesses generate finance in the very early stages.

Innovative Finance Opportunities

One of the main drivers of this new entrepreneurial spirit is the range of ways people can now finance their businesses. With banks not lending as much or as easily, these entrepreneurs have had to be even braver and more innovative in the way they raise money. One of these is through crowd funding. These are mainly internet-based schemes where new companies can sell shares to a number of different investors to raise funds. It helps to encourage those who have great ideas, but often lack the funds to take them forward.

You still need a certain element of bravery to go it alone in the business world. However, these forerunners of the new entrepreneurial society could give the economy the boost it needs and encourage more people to set up businesses.

Brave Start Entrepreneurs – Business Start-ups 

Written by Andrew Pringle of Circle Square Talent

Probationary Period and what it means for your employment rights 

Well done! You're on the first day in your new job and have been presented your contract of employment by your beaming manager. All is going well until you scan down and notice a reference to a probationary period.

What on earth is the Probationary Period and what does it mean for your employment rights?

Getting through your probationary period

The fact is that there is plenty of advice available about writing strong CV, targeting your job search and impressing recruiters at interviews. Whilst these are essential to getting the job you want, there is another hurdle which is just as important to overcome: getting through your probationary period in the first few weeks or months of your new job.

A probation period lasts for three – six months

The concept of a probation period isn't new, but it's becoming more widely used in organisations. Usually, a probation period will last for three months, but in some cases it will last for six months. Employers can extend their probation periods for new staff as they wish. Additionally, they are within their rights to provide different pay and benefits packages to new staff during this probationary period and afterwards too.

A typical example would relate to pension contributions or a benefit such as private health care. Notice periods might be shorter. These benefits may be reduced during probation and when an individual is dismissed before they Complete this period, they will only be entitled to the minimum legal notice usually one week's pay plus outstanding holiday. 

However, there is an upside to this. If the job doesn't work out from your Perspective, you can leave without needing to work any notice period.

When you pass the probation period

The other important thing to know is that there is no change to your legal rights, even when you pass the probation period. If you started your job on or after the 6th April, 2012, the period before your full employment rights kick in has increased to two years, from one previously.

So for the first two years of your employment, your boss can dismiss you for almost any reason they want. There is an obvious exception to this rule in the form of any kind of discrimination (but primarily racial, sexual or age-based), for which your rights accrue from your first day.

In terms of determining what your employment rights are, you need to calculate your start date as the first day of employment rather than the end of your probation period.

What is expected of you during your probation period?

Certainly a good employer will define what is expected of you during your probation period and may even provide support, such as a mentor or training. If there is no such support forthcoming, however, be proactive and take steps yourself.

Some examples of steps that you could take to survive and even thrive in your new jobs probationary period are:

- Always being on time. - Build up a good relationship with team members in case they have an influence.

- Volunteer to help with special projects and generally throw yourself into your work so you start adding value from day one.

- Accept a mentor if you are offered one and then be proactive about making the most of their time.

- Have a positive attitude and seek to learn about the company, its culture and the way things are done.

- Make sure you live up to the claims you made in your CV and during the interview.

We hope this helps you get through your new job's probationary period.

Good Communication Skills.... The Secret to Career Success 

Being able to ask the right questions

Being able to ask the right questions gives you the ability to gain deep insight, helps you on your career path and can make you successful in almost every aspect of your life. The trouble is that most people are dreadful at asking questions and communicating. So how can you learn?

Great questioning will provide greater value from business meetings

Ask yourself if a great questioning and investigative ability would help you to extract greater value from business meetings? Would the value of your mentors increase? Would networking and chance meetings with fellow executives lead to profitable relationships and new business? The experts say yes.

A former journalist and businessman, Evan Ratliff, (cofounder, CEO, editor of Atavist) explained that his time working at The New Yorker helped him to ask the right questions to get the answers he needed. This ability to question in a high-value way meant that the business could progress and all interactions became more valuable.

A great example of an interesting experiment of Evan Ratliff’s for Wired Writer Evan Ratliff Tried to Vanish: Here’s What Happened. This offers great insight in to the sharp mind of Evan Ratliff and what makes him a great journalist.

Most of us ask very bad questions

The difficulty is, however, that most of us ask very bad questions. We accept poor answers, talk too much or get no response at all. Directness embarrasses us, as does a fear of revealing ignorance, so we do our best, fudge things and miss out on personal development and growth.

However, things can be different. Here's the way to becoe a great interrogator and a great conversationalist in the process.

Firstly, stop asking multiple-choice questions.

If you have a question, why is it you who's talking? Ask a simple, direct question and have confidence in your brevity.

Get used to silence as well and embrace it as thought time.

Elicit meaningful answers by starting your questions with what, why, how or when. Stop fishing for answers and give the other person the time to think about a response.

If you don't get a response, ask the question again in a different way.

If you don't understand the answer, ask a follow-up question to clarify matters. You can also check your understanding by rephrasing the answer in your own words. Finally, never be scared about asking what appear to be stupid questions. These are sometimes the best questions of all.

Another tip to remember is that the worst questions are those which are leading, or fishing for a specific answer.

Top journalists always recommend avoiding these. Basically, if you already know the answer then why you are asking the question? If you are simply seeking clarification of a guess or suspicion, ask directly and objectively. You'll show yourself to be confident and you'll tend to get more honest answers.

Other Good Communication Tips

Most people aren't upset by interruptions to their flow, especially if it shows that you are listening and responding to what they are saying.

Remember to re-frame a question in a new way if you feel that you didn't get a straight answer to it originally.

Media-trained people in particular will be skilled in the art of the dodge. Many times, the talker will simply have failed to understand the question or forgotten to answer it. When in doubt, be simple and direct.

And Finally

Don't risk pretending that you know something that you don't. 

The most embarrassing questions are the ones that never actually get asked and which cause problems or missed opportunities later down the line. Remember that you don't need to impress other people with your knowledge   you are simply information gathering. Most people are more generous with their time and knowledge than we realise. They simply need to know what you want to know.

The Secret to Success in your Career….. Good Communication Skills

by Marc Dewdney of Circle Square  

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Since 2008, the global economy has been a continual talking point, making headlines for all the wrong reasons. Credit crunch, sub-prime mortgages, double-dip recession these are all terms regularly bandied about and which now seem part of our public consciousness. 

Casualties of the Recession

There have been some fairly spectacular casualties of the recession, with a number of high-profile companies folding, high-street stores being forced to close and big names in industry making many people redundant.

Employment Market

Austerity is another watch word of the last few years, with cost-cutting measures introduced by the coalition government in a bid to curb the country's borrowing and pay back some of the mammoth debt. All of which has had a massive effect on employment figures, with job losses occurring in just about every area of the employment market.

UK Dipping in and out of Recession

With the UK dipping in and out of recession, it can feel difficult to believe that there is any positivity to take from our financial status at the moment  one upbeat headline is almost invariably countered with another, more negative one. The London 2012 Olympics and the Queen's Diamond Jubilee in 2012 helped to lift the UK out of recession, but with talk of a triple dip this is short-lived good news.

So far, so depressing. But if you are in the employment market whether trying to get a foot on the ladder or looking for work following redundancy then there is some hope.

Employers Still Need High-Quality Candidates for Their Roles.

Experience is still valued and qualifications do count for something. It is important to try to see beyond the headlines, looking positively at what is actually out there and not becoming bogged down in a sea of negativity. There is no escaping the fact that the country is suffering an economic crisis and has been doing so for a number of years. But the key factor coming across from employers in all sectors is that if people can prove themselves then they are in with a good chance.

Make Yourself Stand Out from the Competition in the Employment Market

Competition for every role is much fiercer these days than in the past. More and more people are applying for the same job, short-lists are becoming longer and interview processes are becoming more involved. The best advice is to work on making yourself stand out from the competition, demonstrating to potential employers just what skills you have to offer and emphasising how and why you will do things differently and better than the other people they are considering. Show them how you can and will improve their business and prove that you have the capacity to make it happen.

It can often be tempting to hold back a little and it is not often easy to blow your own trumpet. But this isn't a case of boasting or showing off. It is all about being effortlessly confident, focusing on the skills and competencies you do have and using these to strengthen your recruitment case.

Moving on from the recession.... the Employment Market
Written by Chima Kanu of Circle Square Talent

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Accountancy & Finance JobsPrivate Equity JobsCapital Markets Jobs

Venture Capital JobsReal Estate JobsInterim & Temporary JobsCorporate Finance Jobs

To contact one of our specialist consultants call 0207 492 0700 or email:

enquiries@circlesquare.co.uk

To download the Finance & Accountancy Salary Guidelines 2013 

If you would rather view the salary guide online:

Accountancy & Finance Salary Guide 2013

OUTPLACEMENT SUPPORT

If you have been made redundant and are looking for outplacement support, Circle Square now provides an outplacement

service through Always Forward Outplacement Support - Part of the Circle Square Talent Ltd Group. 

We are hired by companies who wish to provide an outplacement service to soften the blow of redundancy and also by executives

who would like our help moving on. Always Forward also offers an online Careers Service and Redundancy advice to support you through this transitional time.

As the global economic downturn continues to affect countries across the world and particularly members of the eurozone, financial products and services are still being affected.

In 2012, fees for investment-banking services dropped by 3% to $74.8 billion.

This marks the slowest period since 2009 for investment-banking fees, covering everything from capital markets underwriting to M&A advice. There was a rise in the fourth quarter of the year, a 13% increase on the same quarter in 2011.

In Europe, where the single currency is still in trouble, fees took a 17% tumble from 2011 to $17.1 billion and Asia Pacific saw an 18% decline. There was some good news, however, as the Americas saw their fees rise 6% from 2011 and Japan by 18% over the same period.

1% decline in investment fees 

Financial sponsors and their portfolio companies were also hit during the year, recording a 1% decline in investment fees over the year to $10 billion. Leveraged-buyout fees comprised 37% of financial-sponsor-related fees throughout 2012 (a similar story to that seen back in 2008 when the financial crisis began). The Carlyle Group LP (and related entities) proved to be a big success story for the year, seeing an impressive 43% increase in investment-banking fees to $396 million. Goldman Sachs also had an excellent year, boasting 7.5% of financial-sponsor-related fees during the year, making it the industry leader for 2012.

Debt capital markets made up 30% of overall investment-banking fees

Debt capital markets made up 30% of overall investment-banking fees during the year, boosting its totals by 26% to $22.5 billion. However, M&A advisory fees were another casualty, dropping by 12% to $20.5 billion. Equity capital markets saw their slowest annual period since 2003, recording a 17% decrease to $15.6 billion. Meanwhile, the industrials, financials, materials and energy and power sectors made up 63% of the overall global fees in 2012.

JP Morgan was the year's big winner. The company took $5.6 billion in fees, which translated as 7.5% of the overall share. RBC Capital Markets also ranked well, gaining 0.8 points (the biggest increase). Barclays, Wells Fargo and Citi also followed closely behind in improving their share. Bank of America Merrill Lynch, however, saw a 6.5% decline in its fees to $4.9 billion.

Morgan Stanley took 10.7% of investment-banking fees in the technology sector

JP Morgan's success saw it lead the fee rankings for eight sectors for the year. Deutsche Bank did well in agency and government underwriting, with 6.3%, while Morgan Stanley took 10.7% of investment-banking fees in the technology sector for 2012.

Global Investment Banking Review Full Year 2012 - Written by Ross Stokes

To search our current jobs: Accountancy & Finance Jobs   Private Equity Jobs  Capital Markets Jobs   Venture Capital Jobs   Real Estate Jobs   Interim & Temporary Jobs   Corporate Finance Jobs

To contact one of our specialist consultants call 0207 492 0700 or email: enquiries@circlesquare.co.uk

To download the Finance & Accountancy Salary Guidelines 2015            

If you would rather view the salary guide online: Salary Survey 2015

Officially, a recession is characterised by a contraction of Gross Domestic Product (GDP) for two consecutive quarters, so even if figures due out on Friday show that the UK economy shrank in the fourth quarter of last year, the country will not, officially, be in recession. Nevertheless, with analysts predicting a contraction of GDP between 0.1% and 0.4% in the final three months of 2012, the news for the economy is hardly ideal.

Teetering on the Brink of a Triple-Dip Recession

Recent poor results from the manufacturing and retail sectors in the UK, combined with heavy snowfall across the country, which is expected to badly affect high-street spending, have left the country teetering on the brink of a triple-dip recession. In fact, if Friday's figures are as expected, they may indicate that the UK has been in recession all along, with the growth and contraction quarters simply part of the recession phase of the cycle.

The UK is one of the Countries in the most Troubled Group in a Triple-Speed Global Economy

Whatever the outcome on Friday, the fact remains that the UK, along with several other leading economies, is one of the countries in the most troubled group in a triple-speed global economy. Japan and most of the countries in southern Europe are in recession, parts of northern Europe, Brazil, Canada and the United States have returned to economic growth, albeit slow, while several emerging economies continue to forge ahead.

 China, now the second-largest economy in the world

The Chinese Prime Minister, Wen Jiabao, recently called for the People's Bank of China to promote "healthy" economic growth after the Chinese economy expanded by just 7.8% in 2012, compared with 9.2% in 2011 and 10.3% in 2010. The figures from China, now the second-largest economy in the world, still compare very favourably indeed with those from the UK, the seventh largest. The UK economy expanded by just 1.8% in 2010, just 0.76% in 2011 and contracted by 0.38% in 2012.

The Bank of England has injected a total of 375 billion into the UK economy via its quantitative easing programme.

The Bank recently reported that there had been a significant increase in the amount of credit made available to consumers and businesses, but quantitative easing must come to an end at some point, leaving a fragile economy to fend for itself. That's unlikely to be the only risk facing the UK economy in the months and years to come. Global investors' perception of the eurozone must, at some point, fall in line with the economic data from the region, which is poor and inflated speculation in Western governments' bonds must, likewise, come to an end.

Triple dip three speed global economy

The newspapers are full of stories about the Eurozone.

One minute, EU mandarins are saying that the mounting threats to the stability of the single currency have been solved. The next minute, levels of unemployment within the Eurozone are reaching record highs.

Certainly this has been the case towards the end of 2012 and retail sales also plummeted within the same period.

The Eurozone became an economy that was rapidly plunging to ever lower depths.

Official figures recently released have finally clarified the extent of the problem, despite the eurocrats in Brussels weakly proclaiming that there is no crisis.

The net result is a clear indicator of the Eurozone's continuing recession, with even Germany still expecting to have shrunk towards the end of 2012 as it's export figures crashed. 

This latest release of dire data comes after the European Commission's President Jose Manuel Barroso, released a statement to say that the threat against the euro had been essentially overcome.

He said that the question of 2013 would no longer be whether the euro was likely to fail or not. He stated that Mario Draghi, the head of the EuropeanCentral Bank, had greatly helped to put Europe back on the track towards recovery by pledging to buy the bonds of struggling governments (or at least those who vowed to deliver sweeping economic reforms and come cap in hand for a bailout). 

However, Barroso might well be in the minority as far as his optimism is concerned. The crisis in Europe certainly does seem to be escalating and economists are still in doubt over whether the Eurozone could realistically remain intact in the face of mounting social and economic pressures.

The Eurozone unemployment figures hit 11.8pc in November

Economic indicators also look grim, with retail sales dropping 2.6pc year on year.

Market analysts are predicting that demand will remain depressed as the private sector works hard to pay off its debts rather than borrowing and investing its way out of the mess. Even the largest economy in the single-currency area, Germany, has finally experienced economic contraction at the end of 2012, with exports dropping by 3.4pc during November, further compounding the wider problem.

The prospect of a weaker Germany in 2013 is a risky one, particularly with regard to Eurozone projections for deficits and growth, according to analysts at BNY Mellon.

The same analysts believe that 2013 will be an even tougher year for Germany and the entire single-currency zone. A further funding crisis is to be expected, although the scale cannot yet be anticipated. And although the European Central Bank's plans to use monetary policy to support the economy were greeted positively by the market, many economists believe that this type of aid is insufficient to drive the Eurozone back to recovery on its own.

In fact, many believe that Europe is going more deeply into recession, without the central bank or individual states yet taking meaningful action.

The subsequent reforms are expected to happen in a prolonged and painful way, with falling wages, growing unemployment and ineffective monetary policy all combining to devastating effect.

This belief is certainly held by the Centre for Economics and Business Research, who doubt that the single-currency area can last for as long as its supporters suggest. At best, it seems that a long slog is ahead, but realistically the likelihood of that recovery occurring is unclear.

Is the Eurozone Still Working?

Written by David Archer 

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