Portugal’s borrowing costs are “unsustainable” after the interest paid on an auction of 1 billion euros ($1.4 billion) of government bonds surged, Goldman Sachs Group Inc. Chief European Economist Erik Nielsen said.
U.K. executives’ confidence is improving, surveys show, signaling a strengthening recovery that may push unemployment closer to the level at which the Bank of England says it will review interest rates.
Erik Nielsen, chief global economist at UniCredit SpA, says despite a leadership change, China is a "slow moving supertanker" and will not divert from current policy. Nielsen talks with Bloomberg's Mark Mills and Vonnie Quinn on Bloomberg Radio's "Bloomberg - The First Word."
Nov. 20 (Bloomberg) -- Erik Nielsen, global chief economist at Unicredit Bank, talks with Bloomberg's Tom Keene about the European debt crisis and the fiscal cliff's threat to global growth. He speaks on Bloomberg Television's "Bloomberg Surveillance."