PIMCO CEO says Europe must prepare for a Greek exit

Greece may have to exit the 17-nation euro and the monetary union should plan for it to ensure stability, according to Pacific Investment Management Co’s Mohamed El-Erian.

“A Greek exit will be expensive and messy, but it’s probably inevitable and therefore we should plan for it,” El-Erian, the chief executive officer of PIMCO, the world’s largest manager of bond funds, said in an interview on Bloomberg Radio’s “Bloomberg Surveillance” with Tom Keene and Ken Prewitt. [Bloomberg] - Ekathimerini.com 

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