Warnings of a new financial crisis

IS a new global financial crisis imminent? Yes, says George Soros, the multi-billionaire and hedge fund pioneer. No, says James Gorman, CEO of investment bank Morgan Stanley, who called Soros’ prediction “ridiculous”.

This variance of views comes at a moment when there are signs of a financial breakdown in Italy, and of money flowing out of emerging economies, including Turkey, Argentina, Indonesia and Malaysia.