ECONOMY

PIMCO: ECB may have to take losses on Greek bonds

The European Central Bank may have to take losses on its Greek sovereign bonds because the country is unlikely to repay its debt in full, Andrew Bosomworth, managing director at Pacific Investment Management Co, said on Friday.

?At the end of the day it?s the Greek government?s decision, therefore the ECB might unwillingly accept that it doesn?t get everything back,? Bosomworth said in an interview in Riga, Latvia.

[Bloomberg]