Despite the downgrade of Greece’s credit rating to the lowest in the Eurozone, the country won’t default on its debt, says hedge fund legend George Soros.
In an interview with Sky Television, he said the U.K., whose credit rating may be at risk, and Dubai, which is suffering a financial crisis, won’t default either.
"There has to be pressure on Greece to put its house in order but I'm sure that Greece will not be allowed to default. The same applies to the U.K.,” Soros said. (more)
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