George Soros has called a “virtually irreversible” collapse of the EU after Brexit


The output of great Britain and the EU making “the breakup of the EU is virtually irreversible,” wrote billionaire George Soros comments on the website Project Syndicate. “Now catastrophic scenario, which many feared had materialized, making the collapse of the EU is virtually irreversible,” he said.

However, he predicted a negative impact came from the EU countries in the near future. “Britain in the end may — or may not — get the relative benefits of leaving the EU, but its economy and people would suffer greatly in the short and medium term”, — said the billionaire.

Also, what Soros called “reconstruct” the Union. “We must not give up. The European Union, according to generally accepted opinion, design flaws. After Brexit all those of us who believe in the values and principles that the EU aims to support, should get together to save it, carefully renovated. I am convinced that as soon as to show the consequences of Brexit in the coming weeks and months, more and more people will join us, ” he said.

A few days before the referendum on Brexit Soros predicted more than in the “black Wednesday” 1992, the fall of the pound, where he then earned. As noted by the billionaire, the fall will be at least 15% and possibly more than 20%.

“If the pound falls to this level, ironically, one pound will cost about one Euro — a kind of “joining the Euro”, which no-one in Britain would,” stated the billionaire.

A referendum on the question of exit and the EU was held on 23 June. By the end the supporters of Brexit won with 51.9 per cent (17.4 million people). Opponents of the achieved results in 48.1% (16,14 million). The turnout was 71.9%.

In Brussels after the decision of the people of the UK called the authorities as soon as possible to start the implementation of the decision on withdrawal from the EU. “We expect the United Kingdom government will begin to execute the decision of the British people as soon as possible, no matter how painful the process,” — said in a joint statement, the leaders of the Union.

In turn, Prime Minister of great Britain David Cameron announced the decision to resign. He explained to him that considers the correct preservation of Britain in the EU.