Fra Guardian:
Allianz’s chief economic adviser, Mohamed El-Erian, fears the Greek crisis could damage the European Central bank’s reputation and finances, given it is now providing €82bn of emergency support to Greece’s banks
FYI #S&P downgrade of #Greece to CCC has few consequences.It does highlight however extent of financial and reputational risk for @ECB #ELA
— Mohamed A. El-Erian (@elerianm) June 11, 2015
And speaking on Bloomberg TV, El-Erian warned that policymakers are “losing control of the situation on the ground”
Even if you come up with even another bandaid, this isn’t a problem that is going to be resolved any time soon.https://twitter.com/elerianm/status/608878486514769920
