James Gorman, general manager of the US bank Morgan Stanley, said that the probability of a recession in Europe is “significantly” higher than 50%.
The expert added in an interview with the Journal du Dimanche: “For the US, I estimate this risk at about 50/50. In my opinion, in Europe it is much larger. Of course, not 100%, but definitely more than 50%.
But Gorman doesn’t see the recession as a big, serious problem. He expressed confidence that, of course, the world will not collapse due to the decline in economic activity, and perhaps he will be able to adapt to it and quickly overcome it.
The CEO believes that the world is unlikely to experience runaway inflation. He ruled out the possibility of strong collective social activity under the influence of the energy crisis.
“But there is absolutely no doubt that we will live in turbulent times,” he said.
Source: RIA Novosti