Renewed recession in Europe, says IHS's Rajiv Biswas

G20 financial leaders have given the eurozone a week to come up with a solution, with finance leaders warning failure to deliver will leader a higher risk of a global recession.

Meanwhile, anti-capitalist protests stemming from the Occupy Wall Street movement have spread across four continents, including Asia.

Protesters camped out in Hong Kong's financial district for two days. While demonstrations were also held in Seoul, Taipei and Tokyo.

Rajiv Biswas, chief Asia economist at IHS Global Insight, says while Europe now has a new sense of urgency it cannot escape another recession.

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