Allianz's chief economic adviser, Mohamed El-Erian, pointed to Brexit and a shrinking German economy as key drivers of a downturn.
Allianz's chief economic advisor puts the odds of Europe falling into recession at 70%. Mohamed El-Erian told Financial News that due to Brexit and a shrinking German economy, there's a good chance that Europe will suffer its second crisis in a decade. Germany's central bank warned of a potential recession this week, while UK Prime Minister Boris Johnson continues to push the idea of a no-deal Brexit. View Markets Insider for more stories.
Allianz's chief economic advisor puts the odds of Europe falling into recession at 70%. Mohamed El-Erian told Financial News that due to Brexit and a shrinking German economy, there's a good chance that Europe will suffer its second crisis in a decade. Germany's central bank warned of a potential recession this week, while UK Prime Minister Boris Johnson continues to push the idea of a no-deal Brexit. View Markets Insider for more stories.
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