Soros says the U.K. may not survive after Brexit

Billionaire investor George Soros (see photo) warned on Saturday the U.K that voted to leave the EU, saying, “The UK itself 'may not survive’ the decision to leave Europe.”

In his commentary on the website Project Syndicate, Soros said, “Scotland, which voted overwhelmingly to remain in the EU, can be expected to make another attempt to gain its independence. Some officials in Northern Ireland, where voters also backed Remain, have already called for unification with the Republic of Ireland.” He said, “Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term.”

“The disintegration of the EU is practically irreversible. Financial markets worldwide are likely to remain in turmoil as the long, complicated process of political and economic divorce from the EU is negotiated," the legendary invested said. "The consequences for the real economy will be comparable only to the financial crisis of 2007-2008.”

“But we must not give up. Admittedly, the EU is a flawed construction. After Brexit, all of us who believe in the values and principles that the EU was designed to uphold must band together to save it by thoroughly reconstructing it," he added. "I am convinced that as the consequences of Brexit unfold in the weeks and months ahead, more and more people will join us.”

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