EU Leadership Key to Stop US Downturn: CIO

3:30 AM ET Thu, 6 Oct 2011

"We do not expect a recession in the United States, but a lot depends on what happens in the Europe. That is obviously pivoted on leadership. We need to see the 17 finance ministers come together in a credible way, and that is really going to be the key indicator for whether the United States can continue with a very slow, but steady, slight recovery," Alex Friedman, CIO at UBS Wealth Management, told CNBC.