The current talk of the whole of Great Britain is centered around Brexit, or the possible exit of Great Britain from European Union, and even George Soros has chimed in. Up until now, many high profile financial professionals have kept their opinions to themselves, but as the day draws near, economists and financiers are offering their opinions on the matter along with politicians and celebrities. Most recently, Soros made the news alongside football player David Beckham and his wife, Victoria Beckham, all coming out on the side of remaining with the European Union.
George Soros is a well known and respected investor, having made his mark in Britain and Europe over the past few decades. Not only does he work within the industry, but he has served as an analyst and published in many different forms on the history, trends, and implications within the financial world. Soros’ is basing his opinion about Brexit on his own knowledge of the financial history, and looking at where the British government and its financial health currently stands. Not only did he speak to the current state of affairs, but he looks at all the interests that Britain has and the many ties to the EU that would come into play in order to best set up Britain for economical health.
George Soros – Forbes
George Soros spoke of the financial ruin that has befallen Britain in the past, and how those situations were created by situations similar to the vote that is going take place. Soros, like Beckham, urges voters to think not only about the present state of economics in the country, but to consider the long term effects a split will cause. In leaving the Union, Britain would not only cause a huge wave of financial trouble for Britain, but for the youth of Britain that will inherit the problems created by the exit.
Every industry will be touched by the exit, but most profoundly the manufacturing industry, which is something that the country saw back in the 90’s. Export taxes and prices would rise faster than the industry could reasonably support, making it harder for local businesses to compete and still earn a profit. These difficulties would flow over into other industries, and it is these ripples that George Soros bases the large part of his argument on in a lot of the papers that he has been cited in. Of course, Soros has his critics and supporters in the opposition that cite other economic predictions of his that did not come to pass, but every point that Soros has raised is a concern.
Learn more about George Soros: http://www.bloomberg.com/news/articles/2016-06-27/soros-was-long-the-pound-before-brexit-vote-says-spokesman