EU Budget Crunch: George Soros Changes Mind on European Perpetual Bonds, Doubts Bloc's Future | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

EU Budget Crunch: George Soros Changes Mind on European Perpetual Bonds, Doubts Bloc's Future

The Hungarian-American investor has stressed that lenders will eagerly buy bonds from entities whose long-term existence and prosperity are certain, which is not currently the case with the EU. However, such a goal "is worth striving for", Soros acknowledged.

George Soros has apparently had a change of heart over the European Union's financial portfolio and how the bloc should cover the costs of the raging coronavirus pandemic, suggesting in an op-ed for The Guardian, that in the wake of the latest budget-related developments, investors have strong doubts that the political bloc will ever pay off the bonds.

The Hungarian-born billionaire previously argued that the EU should opt for "perpetual bonds", with the practice largely meaning that the lion's share of borrowed sums would never be repaid, only the annual interest rates would.

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