PIMCO's Mohammad El-Erian says we're on the verge of a European banking crisis.
El Erian told Bloomberg Surveillance:
“We’re getting close to a full-blown banking crisis in Europe... We are in a synchronized global slowdown. There’s very little confidence in economic policy making both in Europe and the U.S.”
“The light should be flashing yellow, if not red, in Washington, D.
A crisis of confidence and uncertainty is antagonizing the global economy as everyone waits for central banks, around the world—led by the European Central Bank—to go "all in," PIMCO's Mark Kiesel writes in a new column out today. U... Read Post
May's disheartening jobs report underscores America's persistent unemployment crisis, and Europe is stumbling from bad to worse. The risk of a synchronized global slowdown requires a coordinated global response. Yet there is no cond... Read Post
Depending on how you look at it, U.S. banks could lose as much as $1 trillion dollars if the current money troubles in Europe were to lead to a full blown financial crisis. Or they could close to nothing. It depends on who you belie... Read Post