Increased government spending through stimulus plans risks plunging the world into a new crisis and has already sparked a return of inflation, according to the chairman of Nestlé.
Peter Brabeck, one of Europe’s leading businessmen with his role as vice-chairman of Credit Suisse and L’Oréal, told the Financial Times in a video interview that the current recession would be “very deep” and “relatively long”. He added that the deficits being created by many governments meant “this crisis will go on for a long period”.
“I’m more worried about what we are doing today in some countries might be the basis for a new crisis …The stimulus projects that are being put into place now means that the printing machine will start to work and this is clearly the start of inflation,” he said.
See full Article.
Posts
