Sina Finance YORK October 5 pm news, Beijing time 15:00, the British FTSE 100 index rose 2.4 percent to 5063.79 points German DAX 30 rose 2.4 percent to 5346.89 points France's CAC 40 rose 2.1%, News 2911.88 points. European stocks overall benchmark Stoxx 600 index rose 1.6 percent to 220.98 points.

Sina Finance YORK afternoon of October 5, according to foreign reports, Morgan Stanley Asia Chairman Stephen - Roach (Stephen Roach) said on Tuesday that Europe might have fallen into a mild recession in the United States may also fall into the same predicament, But the current global economic turmoil can not reach the severity of the crisis in 2008.

Roach in Toronto prediction meal at the CFA Institute, said, " I think the global economy suffered a major impact is unlikely."

He believes that the U.S. economy has just increased, mainly France and Germany and other euro zone economies will soon shrink, which entered into recession in other European countries in the world.

He said: " For me, the major developed countries are at the edge of recession, and possibly in the next 12 months into a recession."

He believes that the euro zone out of the woods road is clear that Europe needs a financial alliance. This will require a 17 euro-zone member states work together, transferring part of their sovereignty, and acknowledge that: there is no cohesive financial alliance, the monetary union will be doomed to fail and to collapse.