# Prof. Michael Spence discusses a potential global impact from the Ukraine conflict

1 Faculty News March 24, 2014 ![](/sites/default/files/styles/246w/public/assets/images/con_047071.jpg?itok=kfc5buuV)>

Excerpt from [The New Republic](http://www.newrepublic.com/article/117139/sanctions-against-russia-could-cause-global-recession-ukraine) -- “'If it escalates along the lines you suggest, it will lead to a global recession with a particularly strong negative effect on Europe at the wrong time,' said [Michael Spence](http://www.stern.nyu.edu/faculty/bio/a-michael-spence), a fellow at the Council on Foreign Relations."

[Read more](http://www.newrepublic.com/article/117139/sanctions-against-russia-could-cause-global-recession-ukraine)