Work 'dries up' as euro debt crisis worsens

摘要

The deepening eurozone debt crisis has forced UK architects to scale down offices on the continent and look for work beyond Europe. Jestico + Whiles associate director Sean Clifton, who is based in Prague, said British practices operating in Europe would 'definitely' have to reduce their workforce. He said fears over Greek and Italian debt defaults had left many clients and investors 'extremely cautious', causing delays to hundreds of projects. He added: "The exposure of Germany and France to Greek and Italian debt is our largest concern, as many of our UK and European projects are financed by funds closely linked to Germany and Italy. The direct result for UK architectural practices is less work in Europe, and to a lesser extent, less work at home.'