A fresh Forbes article reveals how the Eurozone nearly “imploded” in July. The rather dramatic stance comes from the CEO of PIMCO Mohamed El-Erian in his speech to The Economist’s annual Buttonwood Gathering.
El-Erian also commented on the positive action of the ECB in helping hold things together but questioned the long term ability to solve the underlying Eurozone issues. ““The ECB can hold things together for a while, but if politicians don’t step up to the plate, it will be very difficult..” he commented.