Billionaire investor and philanthropist George Soros has given his view of what happens now to Europe after the Brexit vote.
Addressing the European Parliament in Brussels, he warned Europe’s banking system will be “severely tested” but he does not believe the European Union will fall apart because Britain had decided to leave.
Soros said: “The vote for Brexit was a great shock to me and, I imagine, to most people in this room. Last Friday morning the disintegration of the European Union seemed practically inevitable. But as the initial disbelief wore off something unexpected happened and the tragedy no longer looks like a ‘fait accompli’.”
Soros said some supporters of the leave campaign have started to realise the bleak future they and Britain face which could lead to the EU being saved by a movement to profoundly restructure it.
The 85-year-old anti-austerity activist talked up the positives of Brexit saying the referendum result has mobilised young people and those who didn’t vote.
“The referendum has highlighted for people in Britain just what they stand to loose by leaving the EU, if this sentiment spreads to the rest of Europe, what seemed like the the inevitable disintegration of the EU could instead create positive momentum for a stronger and better Europe.”
Remarks by— BUDG Committee Press (@EP_Budgets) June 30, 2016
georgesoros</a> this morning in the <a href="https://twitter.com/hashtag/EP?src=hash">#EP</a> on <a href="https://twitter.com/hashtag/Brexit?src=hash">#Brexit</a> and <a href="https://twitter.com/hashtag/refugeecrisis?src=hash">#refugeecrisis</a> <a href="https://t.co/z1uNhINgp4">https://t.co/z1uNhINgp4</a> <a href="https://twitter.com/JeanArthuis">JeanArthuis#EUBudget