Mohamed El-Erian, chief executive of PIMCO, the world’s largest bond fund, predicted that Greece as well as other European countries will inevitably default on their debts. According to El-Erian, a default is the only way these countries can escape their current situation.
“For the next three years, we’re going to see different economies work out different problems. For European economies, especially Greece, it would be through default,” Mohamed El-Erian, chief executive of PIMCO, told reporters in Taipei on Wednesday.
Source: Reuters
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