UK better placed than Greece to weather economic storm - Pimco CEO

Pimco chief executive officer Mohamed El-Erian believes the UK has more tools at its disposal to tackle its economic problems than countries like Greece.

El-Erian, who is also Pimco's co-chief investment officer, says although the UK is under pressure, markets are now realising it is in a stronger position than EU nations like Greece where high deficits have worried investors. "The UK has a high deficit and seen a rapid change in its GDP, but it has a certain ability to adjust. The UK has fiscal, monetary and political instruments it can adjust while Greece only has fiscal ones," he says. "The question is: 'Will the UK be able to combine fiscal adjustment with economic growth?' " El-Erian also outlined the three key considerations h...