Once it happens, will anyone really be surprised?
Greece may have to exit the 17-nation eurozone and the monetary union should plan for it to ensure stability, Pacific Investment Management Co. CEO Mohamed El-Erian told Bloomberg Surveillance, a radio program with Tom Keene and Ken Prewitt.
“A Greek exit will be expensive and messy, but it’s probably inevitable and therefore we should plan for it,” El-Erian said.
PIMCO is the world’s largest manager of bond funds.
As the news service notes, Group of Eight leaders on May 19 urged Greece to stay within the euro area as polls in the country showed a close race between parties supporting and opposing the European Union’s bailout deal. The country is preparing for June 17 elections, following an inconclusive May 6 ballot.