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Europe Finally Gets It, El-Erian Says on Debt Crisis: Tom Keene

Policy makers in Europe now understand the severity of the sovereign-debt crisis and the actions that need to be taken, according to Pacific Investment Management Co.’s Mohamed A. El-Erian.

“What I learned in Washington is that Europeans finally get it,” El-Erian, chief executive and co-chief investment officer at the world’s biggest manager of bond funds, said in a radio interview today on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt. “They recognize they have deep problems and they recognize they need to do something about it. And now they are going back and will try to do something about it. This was a very important wake-up call for Europe.”