Soros: Recession “Almost Inevitable” for Europe

Hedge fund guru George Soros says that a recession in Europe is “almost inevitable”, and that the push to curb government spending while major economic problems remain there could lead to a downward spiral. Soros, who last week said that the world had just entered “Act II” of the global financial crisis, told a seminar this week that Germany has imposed its own standards on the rest of Europe, which could lead to trouble, Reuters reports. “That’s the real danger of the present situation — that by imposing fiscal discipline at a time of insufficient demand and a weak banking […]