Bloomberg News

Goldman’s O’Neill Says Europe Is Probably Already in Recession

November 30, 2011

Nov. 30 (Bloomberg) -- Jim O’Neill, chairman of Goldman Sachs Asset Management, said the 17-member euro-region economy is probably already in a recession as governments struggle to tame the debt crisis.

“European growth is extremely weak, we’re probably already in a recession,” O’Neill told Francine Lacqua on Bloomberg Television’s “On the Move” in London today. The European Central Bank “should be doing the sort of things that other central banks around the world are doing. We need proper leadership in the European crisis.”

To contact the reporter on this story: Francine Lacqua in London at

To contact the editor responsible for this story: Simone Meier at

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