Exclusive statements from ‘Sir of advertising’ Sorrell to Bloomberg HT in Davos

S4 Capital Management Council Leader Sir Martin Sorrell stated that there is a recession risk in Europe, but this risk is not deep. Speaking to Bloomberg HT in Davos, Sorrell also made evaluations about the economies of Turkey and the region.

Sir Martin Sorrell, S4 Capital Board Leader, spoke to Bloomberg HT at the Davos Summit.

Evaluating the summit, Sorrell said that this year’s theme is the right message, adding that the development of economics was unlimited in the past, but that the current world is divided and fragmented, and that the actors in the business world should choose carefully in which country they will work.

“North and South America offers so many opportunities. High-tech will work in North America. The Middle East will be more influential on higher power prices. Many of the comments made here showed that central banks expect inflation to rise again in the second half of the year.

Europe is a very strong geography. It seems that this situation will continue for a long period, especially with the war. I don’t think Putin will back down. I don’t think Zelensky will take a step back either. It means that the security problems surrounding Europe will now be quite severe,” he said.

Sorrell, who also evaluated the economies of Turkey and the region, said, “If I was on the management council of a company and if someone said to me that I want to make an important investment in Turkey, at the same time, I want to invest in Romania, Poland, Czechia, Slovakia and Ukraine. needs to be rebuilt. Here we look at the judiciary, the rule of law and certainty and economics. We want the least uncertainty, but there is a lot of uncertainty in that region, which makes things difficult,” he added.

Finally, Sorrell said, “There is a risk of recession in Europe, but I will say that it is not as deep as some. There may be minimal growth, we are having a measured winter, we have also stored gas, and this may continue next year. Winter may not be so measured next year. The challenges in Europe are very clear,” he said.