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Keyword: detroyingeconomies

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  • George Soros: 'Greece Can Never Pay Back Its Debt'

    10/07/2013 9:52:31 AM PDT · by DeaconBenjamin · 38 replies
    Spiegel.de ^ | October 07, 2013 – 04:02 PM | By Gregor Peter Schmitz in Brussels
    Legendary investor George Soros called for comprehensive debt relief for Greece. "Everyone knows that it can never pay back its debt." Greece is close to a primary budget surplus after a lot of pain and suffering, says Soros, whose speculation against the pound forced the UK to withdraw from the Exchange Rate Mechanism in 1992. "If the official sector could forgo repayment as long as Greece meets the conditions imposed by the troika [of the International Monetary Fund (IMF), European Central Bank (ECB) and European Commission]," Soros added, "private capital would return and Greece could rapidly recover. I can testify...