Two-thirds of respondents perceive
the crisis as an opportunity to gain
competitive advantage. The euro crisis
has been part of the economic landscape
since 2010, giving executives plenty of
time to decide how their businesses should
respond. The survey asked what specific
steps companies were taking in response
to the ongoing economic turbulence in
the eurozone and found that 72 percent
of companies based inside and outside the
eurozone are taking aggressive measures
to cut discretionary costs (Figure 1). China
and Spain show themselves to be especially
active in cutting costs, with 91 percent and
83 percent respectively either planning or
starting to implement changes.