Former MPC member warns recession could run into 2011

The recession is likely to continue into 2011 as the downturn in the real economy is only just begin...

The recession is likely to continue into 2011 as the downturn in the real economy is only just beginning outside of the US, according to a former member of the MPC. Delivering the keynote speech at the Mercer Investment Forum, Willem Buiter, an LSE professor and former member of the Bank of England's Monetary Policy Committee, dismissed the idea green shoots of recovery are starting to spring up. "There is not much chance of seeing them before late 2010, or early the following year," he said. "The recession or depression of the real economy is only just beginning outside the USA and ...