Recession 'to return' to Europe, say Economists

A recession in Europe would be disastrous for the U.S. It might lead to a collapse of the overvalued stock market in America. And if it happens in 2012 Obama is finished. And so would all of us:

The vast majority of leading economists polled by the BBC believe recession will return to Europe next year.

One fifth said the eurozone would not exist in its current 17-member form, while the majority put the possibility of a eurozone break-up at 30%-40%.

The poll also found that most economists expect UK interest rates to remain at 0.5% throughout next year.

It was conducted among 34 UK and European economists who regularly advise the Bank of England.

Of the 27 who responded, 25 forecast recession for Europe next year.

Full article