A firm of economic forecasters, which successfully predicted that Greece and Italy would default on their debts, is confident that its 2012 forecasts are just as accurate.

The Centre for Economics and Business Research, flush with correctly anticipating 2011's eurozone crisis and the slowdown in UK growth, has published 10 predictions for 2012.

If the new set of forecasts come anywhere near the truth then we are all in for a rough ride.