Mohamed El-Erian: 1-in-3 Chance of Global Market Meltdown
December 20 — The head of the world’s biggest bond fund said he sees a more than 1-in-3 chance that the eurozone will break apart and trigger a financial crisis akin to the one that devastated the global economy in 2008.
“It would be the equivalent of a sudden stop” in which financial markets seized up, Mohamed El-Erian, chief executive officer of Pacific Investment Management Co. in Newport Beach, California, said. “It would be really, really messy.” Read more.
