The billionaire investor George Soros said he believes in the ability of Greece to remain in the euro area. He also said that the eyes of market participants are currently targeting the debt problems of several countries, including Greece stands in the foreground. “I believe that Greece will do whatever is necessary to meet the requirements to remain in the euro area,” said Soros told reporters in Jakarta. Among the main reasons the country is fighting for his membership in the euro area is that when the ECB adopts its bonds as collateral for a loan of commercial banks. In the event that the country lost the credit rating, however, its securities will no longer meet the necessary conditions and will not be accepted as collateral. “Support in Greece aims to achieve, I hope the EU, the ECB and the euro area to find a way to finance the country which is not too expensive to support,” said Soros, quoted by Bloomberg.
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