Europe is shifting away from a market-based economic model and is heading for Soviet-style totalitarianism, says Steen Jakobsen, chief economist of Denmark's Saxo Bank.
In a report obtained by CNBC, Jakobsen provides a series of extreme forecasts, including zero economic growth for the United States and a plunge in oil prices next year.
While Jakobsen acknowledges that the "probability of any one of the predictions coming true is low," he notes they are "based on a feasible — if unlikely — series of market and political events."
As for Europe veering toward communism, Jakobsen says the eurozone will continue to suffer from economic stagnation.
More @ Money News
No comments:
Post a Comment