Pimco’s Bill Gross: Cesi n'est pas une summit
This is no summit. It’s a coffee klatch filled with petit fours and empty promises.And another big thank you to EUropastan...
EU is a dysfunctional family. Recession ahead even if agreement is reached. Greek default certain, Portugal/Ireland loom.He put more succinctly though:
fiscal contraction is long term scenario. Risk off.