George Soros, ‘the man who broke the British Pound’, said in a recent note that the consequences of Brexit to the real economy will be “comparable only to the financial crisis of 2007-2008.” He went on to call the disintegration of the EU “practically irreversible.” It’s not just the EU in the firing line; “The UK itself may not survive. Scotland, which voted overwhelmingly to remain in the EU, can be expected to make another attempt to gain its independence, and some officials in Northern Ireland, where voters also backed Remain, have already called for unification with the Republic of Ireland,” he said. “Brexit will open the floodgates for other anti-European forces within the Union. Indeed, no sooner was the referendum’s outcome announced than France’s National Front issued a call for “Frexit,” while Dutch populist Geert Wilders promoted “Nexit.”” Read George Soros’ full thoughts on Project Syndicate: (VIEW LINK)
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