Soros warns Greece still at risk of debt spiral - papers

The cost of borrowing in Greece's rescue package is too high and the country still risks falling into a "debt spiral", says George Soros.

Speaking in London at The Economist's City Lecture, the financier said the eurozone countries and International Monetary Fund should have offered Greece "concessional rates", reports The Telegraph. "It is a question of solvency," he explained. "If you start charging very high rates as the market does in anticipation of solvency then that pushes you into insolvency." The package offers debt-ridden Greece €30bn (£27bn) from eurozone countries at rates of 5% and potentially a further €15bn from the IMF at 2.7%. Read more   A CONSERVATIVE victory would be worse for the UK banking s...