Pimco: Greek Debt Crisis Will Spark Flight to Safety

Tuesday, 27 Apr 2010 01:22 PM
By: Dan Weil

The Greek debt meltdown will lead investors to abandon risky investments in favor of safer ones, says Pimco CEO Mohamed El-Erian.

"How long will it take for the market to worry more about contagion risk?" he asked. “For Europe, Greece is proving to be what the subprime crisis was in the U.S.â€