Bloomberg News

Soros Says Greece May Be Unable to Avoid Sovereign Default

September 24, 2011

Sept. 24 (Bloomberg) -- Greece may be unable to avoid defaulting on its sovereign debts and Europe should prepare for that event, billionaire investor George Soros said.

‘Greece needs to do everything it can to avoid default, but it may not be able to,’’ Soros said on a panel today at the International Monetary Fund and World Bank meetings in Washington. “It’s very important from a point of view of reassuring the markets” to prepare for a potential Greek default, he said.

To contact the reporter on this story: Eric Martin in Washington at emartin21@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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