British bookmaker gives 3/1 on end of euro by 2012

British bookmaker William Hill offered odds of 3/1 on Wednesday that the euro will cease to exist by the end of 2012.

It also gave odds for the first country to quit the currency, with Greece as hot favourites at 1/4 followed by Italy on 7/2.

?It has been one-way traffic in our market on whether the euro will survive until 2013, with punters only wanting to bet on its demise,? William Hill spokesman Graham Sharpe said.

Sharpe said the odds on the collapse of the euro by the end of next year had at one point been 10/1.

The bookmaker is also betting that French President Nicolas Sarkozy is unlikely to win the next election, making him 7/4 second favourite with his rival Francois Hollande the 4/9 odds-on favourite.

European leaders are meeting in Brussels on Thursday for a summit aimed at saving the euro from its spiralling debt crisis.

British Prime Minister David Cameron warned Tuesday he would block a new European Union treaty if London?s demands are not met, including safeguarding its financial services sector. [AFP]

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