The deal to rescue Greece’s finances will prompt political changes that will be just as important for the nation’s long-term recovery, U.S. billionaire Wilbur Ross said.
“The deal will get done,” Ross said Monday in an interview on CNBC. “What’s maybe in some ways more important is I think there will be a change in the political situation in Greece.”
Ross said that he expects parliamentary leaders who opposed the bailout terms won’t continue in power very long.
Ross’s firm, WL Ross & Co., was among a group of investors that pumped 1.3 billion euros last year into Athens-based Eurobank Ergasias SA, one of the nation’s four largest banks.