Greenspan says U.S. economy on brink of recession

Former U.S. Federal Reserve chairman Alan Greenspan speaks at the Per Jacobsson Foundation Lecture on the ''Balance of Payments Imbalances'' at the International Financial Corporation in Washington in this file photo from October 21, 2007. Greenspan warned on Tuesday the U.S. economy was ''on the brink'' of a recession.

JOHANNESBURG (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan warned on Tuesday the U.S. economy was "on the brink" of a recession.

He said via video link to an investment conference in Johannesburg the chances of that economy falling into recession were more than 50 percent and a rebound was unlikely.

Asked if the U.S. economy was in recession, Greenspan said: "We are on the brink". "A rebound at this stage is not something I think is in the immediate outlook," he added.

(Reporting by Stella Mapenzauswa)