Sir Howard Davies, director of the London School of Economics (LSE), today quashed talk of economic green shoots, declaring: "We have not turned a corner".
The former deputy governor of the Bank of England and the founder and first chairman of the FSA says although a mini recovery in bank stocks is likely, the future of the broader market "worries" him. However, while Davies says the current recession is unlike any other he has seen, he adds it is reasonable to use previous crashes as a guide to how long it will last. Speaking to IFAonline at Incisive Media's International Investment Forum today, Davies says he is unconvinced by mounting talk of an economic recovery. "I fear I am sort of more on the bearish end," Davies says. "I don't qu...
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