PIMCO’s El-Erian: ECB Waiting for IMF, Governments to ‘Step Up’

PIMCO CEO and co-CIO Mohamed El-Erian spoke to Bloomberg Television’s Betty Liu about Europe’s crisis and said that the ECB is waiting for governments and the IMF to “step up” before taking further action. El-Erian also said that PIMCO’s investment tone is to “be careful” and that the bond fund is maintaining a “generally defensive [...]