The European economy is a mess and could get worse if it continues along its pattern of stop-gap relief measures followed by bouts of panic, says Mohamed El-Erian, CEO of Pimco, the world's largest bond fund.
Debt-ridden Greece recently agreed on terms for aid money to alleviate its debt crisis, which included asking some private creditors to take a 50% haircut on their Greek debt, but Prime Minister George Papandreou called for a referendum on the package, which was later…
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