“Bill Gross, co-chief investment officer of the world’s largest bond fund, warns investors to stay away from Europe, as the eurozone won’t be coming out of intensive care any time soon.
Pimco’s Gross, writing in a Financial Times editorial, says European leaders Angela Merkel, François Hollande, Christine Lagarde and Mario Draghi all have one thing in common: “They want your money!”
“The ultimate goal of monetary and fiscal policy in the EU is to re-engage the private sector,” he writes. “The EU needs the private sector as a willing (but not necessarily equal) partner in funding its economy.”
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