''European policy makers need to quickly address the worsening sovereign-debt crisis in Greece, Italy and Spain before it becomes a greater threat to the eurozone’s integrity, according to Pacific Investment Management Co.’s Mohamed A. El-Erian.
“They’re looking for an immaculate solution,” El-Erian, chief executive and co-chief investment officer at the world’s biggest manager of bond funds, said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt. “There are no immaculate solutions. You have to work hard at getting this right, and you have to address two very distinct issues: very high debt stocks and an inability to grow.”
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