The Mumble: Big mouth strikes again?
There was a time a few years ago when many talking heads enjoyed saying “X is the new Greece”, leading periphery politicians to reply: “We are not Greece” and — presumably — people in Greece to think: “Hold on, aren’t we Greece?” Such comments are great for headline writers and reflect the real fear of a eurozone breakup in 2011 and 2012. But they can also prove tricky. Pimco, for one, may well be rueing the comments of its former boss Mohamed El-Erian.
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