George Soros sees Global Depression Chances as "Quite High"
Times Online had an interview with George Soros.
-“Unless we handle it well then I think we would. The size of the problem is actually bigger than in the 1930s.”
-G20 summit in London next week is the last chance to avert disaster.
“The odds would favour that it fails because there are such differences of opinion. It’s difficult enough to get it right in your own country let alone with 20 governments coming together, but if it’s a failure I think then the global financial and trading system falls apart.”
If the G20 is nothing but a talking shop then he thinks we are heading for meltdown. “That could push the world into depression. It’s really a make-or-break occasion. That’s why it’s so important.” The chances of a depression are, he says, “quite high” – even if that is averted, the recession will last a long time.