Greenspan lays odds of 2-1 against US recession

Following comments earlier in the year that gave financial markets a wobble, former Federal Reserve chairman Alan Greenspan said Friday 11 May the odds are two to one that the US will avoid a recession this year.

Greenspan spoke in Washington via a videoconference to a seminar in Singapore, and played down risks of another Asian financial crisis like that of 1997.

"The odds are two to one that we won't have recession," he said, according to Dow Jones.

"The chance of 1997 happening again is virtu