Pimco’s El-Erian: Italy's Woes Signal 'Dangerous Phase' in Crisis
November 9 — Italy's debt woes signal "a new, even more dangerous phase in Europe's debt crisis," Mohamed El-Erian, co-chief investment officer of top bond manager Pimco, said Wednesday.
The European Central Bank can act as a circuit breaker but can only be effective if its actions are supported by a host of other measures, El-Erian, who helps oversee more than $1.2 trillion at Pimco, home to the world's largest bond fund, told Reuters.
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