"Unfortunately, it is a mess. There are three parties to a solution and all three are unraveling. There are the debtor countries and they are starting to have even bigger political issues. There are the official creditors and they cannot agree on providing support. And then there are the private creditors. It is not sure that they will get all of the banks to agree on the 50% reduction for Greece, which is the minimum Greece needs. So I'm afraid it's a bit of a mess out there."
Friday, November 4, 2011
"Europe Is A Mess" - World's Biggest Bond Fund
Mohamed A. El-Erian CEO of PIMCO, the world's biggest bond fund says that "Europe is a Mess". See the Video here: