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Soros: EU Decline Post-Brexit “Practically Inevitable”

‘Brexit’ makes the decline of the European Union (EU) “practically inevitable”, George Soros has written in an op-ed for Project Syndicate. The leftist, open borders billionaire also praised German Chancellor Merkel’s gesture to open the EU’s border as “inspiring”.

The aged billionaire blasted anti-EU parties as “xenophobic”. He suggested that in the wake of 56 per cent of people in Northern Ireland voting Remain, the country would break away from the UK and become a “united Ireland”. In 2008, a referendum saw voters in the Republic of Ireland reject the Lisbon Treaty, the EU’s constitution. The next year, the EU forced them to re-do the entire vote.

Having warned that Britain leaving the EU was a “catastrophic scenario” that would make the disintegration of the EU “practically irreversible”, the hedge fund manager admitted that, “Britain eventually may or may not be relatively better off than other countries by leaving the EU”.

In the days leading up to the UK’s referendum on EU membership, Soros warned Brits that a Leave vote would cause the pound to plunge. When the shock ‘Brexit’ vote sent Britain’s currency tumbling for a short while, before it recovered, Soros was one of the main financial beneficiaries.

Mr. Soros made over £1 billion short selling sterling in 1992, forcing Britain to withdraw from the European Exchange Rate Mechanism on a day that came to be known as ‘Black Wednesday’.  The investor, dubbed “the man who broke the Bank of England”, claimed that Brexit would cause an even worse disruption to the country’s economy than the financial crisis he profited from.

Lamenting the Common Market, but hailing globalisation, Soros said:

“All of Europe, including Britain, would suffer from the loss of the common market and the loss of common values that the EU was designed to protect. Yet the EU truly has broken down and ceased to satisfy its citizens’ needs and aspirations. It is heading for a disorderly disintegration that will leave Europe worse off than where it would have been had the EU not been brought into existence.”

Mr Soros wrote his piece on the website Project Syndicate. Advertised online as “The smartest op-ed articles from the world’s top thinkers”, the website is reliably globalist and among its financial backers are the Bill & Melinda Gates Foundation and the Mohammed Bin Rashid Al Maktoum Global Initiatives.

The website features a recent article by Peter Sutherland, a UN Special Representative for Migration, writing that 60 million migrants will enrich Europe. In another piece, a Swedish columnist reflects on migrant sex attacks in Europe as a “new reality”, and foresees “safe zones for women” in the continent’s future.

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