Greece, Ireland, Portugal Should Default on Debt, Pimco Says
Aug. 17 (Bloomberg) — European politicians should let Greece, Ireland and Portugal default while taking steps to ensure Italy and Spain won’t, according to Pacific Investment Management Co.’s Neel Kashkari. “They are delaying and denying as long as possible because the medicine to actually put out this crisis tastes so bad,” Kashkari, head of new investment initiatives at Pimco, said in an interview on “InBusiness With Margaret Brennan” on Bloomberg Television. “They are always behind, always trying to play catch-up, and the crisis is always getting worse.” Germany, France, the International Monetary Fund and the ECB should unveil a “massive” … Read more