September 2011
Economy: A double-dip recession looks inevitable
Europe has been muddling through its sovereign debt crisis since the spring of 2010. The brinkmanship of US politicians over a technical default may have been deeply unimpressive but the logic for a sovereign downgrade was well established long before Standard & Poor’s delivered it. This was all being factored in before the S&P500 and the FTSE fell by just short of 18% between early July and early August and the German Dax proceeded to lose 28% of its value.
What is new is the fear of a double-dip recession...
