Bill Gross blasts Britain and eurozone over austerity

Pimco’s Bill Gross has strongly criticized Britain and eurozone for trying to reduce debt quickly by way of extreme austerity measures.

He cautions that the move has fundamental flaws and can stifle their economic recoveries, reports FT.com.

Gross’ contention is supported by the IMF which also argues that some countries in the developed world are “tightening their belts too fast.”

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