VIENNA ¨C Billionaire financier George Soros is ready to invest $1 billion in Ukraine if Western countries help private investment there, and sees a 1 in 3 chance Greece will leave the euro, he told Austrian newspaper Der Standard.
Soros has previously urged the West to step up aid to Ukraine, outlining steps toward a $50 billion financing package that he said should be viewed as a bulwark against an increasingly aggressive Russia.
¡°The West can help Ukraine by increasing attractiveness for investors. A political risk insurance is necessary. This could take the form of mezzanine financing at EU interest rates ¡ª very close to zero,¡± he said in an interview published on Monday.
¡°I stand ready. There are concrete investment ideas, for example in agriculture and infrastructure projects. I would put in $1 billion. This must generate a profit. My foundation would benefit from this. Private engagement needs strong political leadership.¡±
The Hungarian-born hedge fund magnate, who made his name betting against the pound in 1992, also put the chance of Greece leaving the euro zone at a third. Last week he put it at 50:50.
Michael Vachon, spokesman for Soros, said on Monday in a statement: ¡°Soros said he would consider investments in Ukraine if Western leaders demonstrated that they were prepared to ¡®do whatever it takes¡¯ to save Ukraine, including providing adequate budgetary support and political risk insurance.
¡°Under those conditions, Soros said he would review investments in the energy, agriculture and information technology sectors.¡±
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