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Soros: Greece must catch tax cheats to master debt June 24, 2010

Posted by Yilan in Yunanistan.

A great deal in Greece’s fight to avoid restructuring its debt depends on Athens’ ability to catch those who avoid paying taxes and to correct fiscal abuses, influential billionaire investor George Soros said on Wednesday.

Asked if he shared the view of Greece’s finance minister that Athens can get through its fiscal crisis without having to restructure its debts, Soros told Reuters television: “A lot depends on whether they are able to catch those who avoid paying taxes and correct the excesses, the abuses that are very widespread in Greece.

“If they do, then I think the general public will be more willing to accept the hardship the current programs are imposing,” he added. “In any case, they have such a big deficit, they’ve got to correct it one way or another.”

A team from the European Union, IMF and European Central Bank said last week Greece seemed on track with reforms aimed at rescuing the debt-laden nation from bankruptcy in return for a 3-year, 110-billion euro rescue package.



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