Stiglitz Says European Economy at Risk of Double-Dip Recession

Nobel Prize-winning economist Joseph Stiglitz said the European economy is at risk of sliding back into a recession as governments cut spending to reduce their budget deficits. “Cutting back willy-nilly on high-return investments just to make the picture of the deficit look better is really foolish,” Stiglitz told Dublin-based RTE Radio in an interview broadcast today. – Bloomberg