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George Soros says the decline of the EU is "practically irreversible"
2016-06-26 04:26:10 Post No. 78759944
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George Soros says the decline of the EU is "practically irreversible"
Anonymous
2016-06-26 04:26:10
Post No. 78759944
[Report]
The United Kingdom's fateful decision to break away from the European Union makes an eventual dissolution of the 28 member bloc "practically irreversible," billionaire financier George Soros wrote on Saturday.
In a somber post at Project Syndicate, Soros, who rose to prominence by speculating against the British pound—immortalizing him as the man who broke the Bank of England—speculated that the U.K.'s referendum to split from the EU is likely to hasten the breakup of the entire EU.
Brexit, combined with Europe's festering migrant crisis, has created a "catastrophic scenario" that has grave consequences for Britain and the world economy, Soros wrote, "making the disintegration of the EU practically irreversible."
Noting that Scotland is agitating to leave the U.K., Soros said the county itself "may not survive" the decision to leave Europe.
"But the implications for Europe could be far worse," Soros cautioned. "Tensions among member states have reached a breaking point, not only over refugees, but also as a result of exceptional strains between creditor and debtor countries within the euro zone."
https://archive.is/HTcaB
