The markets are facing a cathartic moment, and heading for "dire straits," warns economist Steen...

|By:, SA News Editor

The markets are facing a cathartic moment, and heading for "dire straits," warns economist Steen Jakobsen. This European liquidity crisis could bring equity market declines of 20% to 30%, even before the December 9 European Union summit. But from that, Steen says, there will be tremendous opportunity for returns over the next 16 to 20 months as we emerge from the crisis and the end of the downward cycle approaches.