Sox First

So what are the bets for how long we will be in recession? In Britain, the Financial Times suggests one year with a one in three chance that it will last longer.

Finland's Finance Minister Jyrki Katainen has told Bloomberg it could last two to three years. In Australia, ANZ banking chief Mike Smith concurs.

Some, like Martin Hutchinson from Morning Morning say it could take five years to work through, but in any case, it won't be short and sharp as occurred in 1991 and 2001.

Meanwhile, economist Nouriel Roubini says two years.

So what do we make of the different predictions? However long it lasts, it won't be over in a few months. This one will take time.

• Recession squeezes jails
• Tips for surviving the recession
• Survival strategies for a deepening recession
• Recession to last 14 months?
• The Royals and the recession
• Recession time: the house of cards tumbles
• US recession reality check
• Recession drawing to an end. So what?
• The long recession's impact
• Recession and repression