Soros: If G20 Fails, Global Depression Ahead

Wednesday, April 1, 2009 10:33 AM

By: Gene J. Koprowski

If the G20 meeting of world leaders this week results in nothing but more hot air, billionaire George Soros says all bets are off — the global economy is heading for a huge meltdown.

“That could push the world into depression. It’s really a make-or-break occasion. That’s why it’s so important. The chances of a depression are quite high — even if that is averted, the recession will last a long time. Look, we are not going back to where we came from. In that sense it’s going to last forever.â€