Skidelsky Says Europe May Face `Double-Dip' Recession, German Report Says

Europe may face a so-called double- dip recession as a consequence of the Greek crisis, Robert Skidelsky said in an interview with Sueddeutsche Zeitung.

Skidelsky, an economics professor who sits in the U.K.’s House of Lords, told the German newspaper the world economy is currently on unstable footing. The United Kingdom is happy not to have adopted the euro because the weak British pound is helping exporters, the newspaper cited Skidelsky as saying.

There is a need for a new reserve currency apart from the euro and the U.S. dollar, and there is a trend to return to the gold standard, the newspaper cited Skidelsky as saying.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

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