Saturday, April 4, 2026

May 15, 2010

Weekend Reading

Secular Outlook by Mohamed El-Erian of PIMCO.

“Last weekend’s drama in Europe is yet another illustration of this phenomenon. Policymakers are now forcefully using the balance sheets of the EU (ultimately Germany) and ECB to compensate for the debt excesses in the periphery (particularly Greece) and the related overexposure of European banks.”

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