Soros Says Greece EU Taboo Victim

Legendary investor George Soros previously said the euro crisis is over, while Europe's nightmare is getting worse. This is because of many 'misconceptions and taboos that sustain it.' In a new Project Syndicate column, Soros writes that Greece has been a victim of such taboos and misconceptions. 'Greece, too, is a victim of its creditors? misconceptions and taboos. Everyone knows that it can never pay back its debt, most of which is held by the official sector: the ECB, Eurozone member states, or the International Monetary Fund. After undergoing a lot of pain and suffering, Greece is close to posting a primary budget surplus. ?If the official sector could forgo repayment as long as Greece meets the conditions imposed by the Troika (the ECB, the European Commission, and the IMF), private capital would return and the economy could recover rapidly.

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