July 6, 2015 / 1:00 PM / 2 years ago

Allianz's El-Erian says Greece 'on path to a Grexit' - CNBC

NEW YORK, July 6 (Reuters) - Mohamed El-Erian, chief economic adviser at Allianz SE, said Monday that he expected a "shock to risk appetite" given the likelihood of a Greek exit from the euro zone.

"We are still on the path to a Grexit," El-Erian told cable television network CNBC. "At some point, this is going to create entry points for markets that are fundamentally supported," he said.

He noted emerging market bonds as an attractive investment opportunity, but said he would not "rush in now," partly given current valuations.

Reporting by Sam Forgione; Editing by Chizu Nomiyama

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