Pimco Says Euro Area Must Pick Union or Breakup, Telegraph Says
European leaders need to rapidly agree a fiscal union or partial breakup to avoid slumping demand for their debt, Andrew Balls, regional investment chief for Pacific Investment Management Co., told the Sunday Telegraph.
The world’s biggest bond investor said the euro region must signal its position or suffer from “continued disengagement by investors,” the newspaper reported. European Union leaders meet on Dec. 9 in Brussels to address the regional debt crisis.
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