Morgan Stanley’s Gorman Says Greece Agreement Key to Confidence

Morgan Stanley (MS) Chairman and Chief Executive Officer James Gorman said private investors reaching an agreement over a restructuring of Greek debt will prevent the worsening of Europe’s sovereign debt crisis.

“Europe did not get worse, it hasn’t gotten a lot better,” Gorman said today in an interview on Bloomberg Television from Davos, Switzerland. “But if we can get Greece resolved and have one concrete outcome of these talks of the last several months, that will be a major push towards more action” by the European Central Bank.

To contact the reporters on this story: Michael J. Moore in New York at mmoore55@bloomberg.net; Patrick Clark in New York at pclark48@bloomberg.net; Erik Schatzker in New York at eschatzker@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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