Soros Says Europe Debt Restructuring Can’t Wait Until 2013
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Billionaire investor George Soros said the European Union shouldn’t delay a restructuring of sovereign debt and it would be “unjust” if Irish citizens absorbed the cost without losses to bondholders.
“There is this unresolved problem,” Soros said in a Bloomberg Television interview with Erik Schatzker at the World Economic Forum in Davos, Switzerland today. “You can’t wait until 2013 to start restructuring the debt. Ireland is putting Europe on notice that they will want to renegotiate the settlement that the current government did.”