Europe’s Debt Crisis Getting Worse, Pimco’s El-Erian Says
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Europe’s fiscal crisis is getting worse and will keeping fueling market instability, according to Pacific Investment Management Co.’s Mohamed A. El-Erian.
“The problems in Europe are getting bigger,” El-Erian, co-chief investment officer at the world’s biggest bond fund, said on Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays as he prepared to speak before the Federal Reserve Bank of St. Louis. “Europe has a debt issue and Europe has a growth issue, and until Europe deals with both, we are going to have these reoccurring periods of nervousness in the market.”