Leading economist says risk of recession is growing

It’s not inevitable that Europe is destined for a recession, according to a leading economist.

The value of the euro has dropped below the dollar for the first time since 2002, as a result of concerns from the rising cost of living and the invasion of Ukraine.

Chief economist with the Institute of International and European Affairs says while he’s not set in stone that Europe will go into recession, the risks are growing:

“We see that the US has a high risk of recession. China’s wobbling meant much of the developing world is in chaos. Look at Sri Lanka. We could potentially have a trade war with Britain over the Northern Ireland protocol. And the big you know, the big Russian bear in the room is gas.”


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