Formula 1 Chief Exec. Bernie Ecclestone: Europe will become a third-world economy

From: WorldCarFans

FIA president Max Mosley said in January: “I cannot envisage that Formula One Management’s (FOM) forecast earnings still hold in the economic crisis.”

F1 chief executive Ecclestone is not talking openly about these issues, but he has undoubtedly shifted his attention from Europe in the quest for more lucrative markets.

“Asia is very important,” he recently told Malaysia’s Star newspaper. “I have been working for the last 20 years to get F1 into as many countries as possible. There should be no limit to where we can take and position F1.”

In a new interview with the Guardian newspaper, meanwhile, he added: “I said a long time ago that the stock market would crash and that Europe would become a third-world economy. And it will.”

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