Soros warns Britain heading for recession

LONDON (Reuters) - Billionaire investor George Soros warned on Wednesday that it would be difficult for the United States and Britain to avoid sliding into recession.

Speaking on BBC radio, Soros also said he thought monetary authorities should be ready to rescue markets when they were in turmoil and should impose more regulation, not less.

"Markets have been left to their own devices and the authorities came to rely on the markets to right themselves," Soros said.

"They ought to have known better," he added. "They ought to know that the markets don't necessarily right themselves."

Asked whether he thought the American and British economies were heading for recession, Soros replied: "I think it will be very difficult to avoid it."