Pimco’s Balls Doesn’t See Buy Signal for European Sovereigns

Europe’s officials haven’t done enough on fiscal turmoil to persuade investors to buy the region’s sovereign debt, according to Pacific Investment Management Co.’s Andrew Balls.

“They need a medium-term plan for greater fiscal integration and to promote growth,” said Balls, head of European portfolio management at Pimco in London, in a Bloomberg Television interview on “In the Loop” with Betty Liu. “Everybody expects a default in Greece. You need to have a plan to prevent contagion. You need to make it credible.”