PIMCO sees Greece action ineffective; UK downgrade

TAIPEI, April 1 (Reuters) - PIMCO sees Europe's actions on Greece as ineffective in fixing the country's problems, and saw a credit downgrade for the UK possibly within a year, Scott Mather, head of global portfolio management for PIMCO, told a briefing in Taipei on Thursday.

Last month PIMCO, the world's largest bond fund, said it was maintaining its negative stance on UK gilts because the amount of debt the country will have to issue in the future should lead to inflation and a depreciating currency. Keywords: PIMCO/ (Reporting by Faith Hung; Reuters messaging [e-mail]; email [e-mail]; [phone]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.