El-Erian sees "very bumpy road" ahead

Mohamed El-Erian, one of the world's most successful investors and a former deputy director at the International Monetary Fund (IMF), says the current crisis underlines the fact the infrastructure did not support the activities taking place in financial markets.

El-Erian, who is the chief executive and chief investment officer at Pacific Investment Management Company (PIMCO), the world largest bond fund, was speaking at the London School of Economics on Tuesday.

He said the crisis was

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