"El-Erian on Greece:
"Greece, unfortunately, has two fundamental issues. It has too much debt and it cannot grow enough. What the response so far has been let's treat this as a liquidity problem, not a solvency and growth issue. One year into a massive bailout every indicator in Greece was soft. And other parts of Europe have gotten contaminated, including the ECB. If you continue with this approach, which is treating Greece as a liquidity problem, not a solvency problem, not only do you not solve it, but you risk contaminating other parts of Greece."..."
at http://www.businessinsider.com/mohamed-el-erian-on-bernanke-greece-and-oil-2011-6?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1Q9vgWOMb
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