Billionaire George Soros Predicts ‘Disorderly Disintegration’ For The European Union: Will Brexit Be Followed By Frexit And Nexit?

Brexit might destroy the European Union, according to George Soros, who predicts Britain will long outlive the EU in this power struggle. Eventually, the stock market will recover. Still, Mr. Soros predicts another recession, similar to the 2008-2009 banking crisis and the housing bubble. A recession may be on the horizon, especially for the British; but, for the EU, this could be the beginning of the end.

George Soros, the billionaire hedge fund mogul, has some dire predictions for the EU. Forbes relates that Mr. Soros, whose net worth is about $24.9 billion, believes the EU will leave Europe worse off than if they’d never developed the concept of a union of European nations.

“[The European Union 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.”

Brexit could leave Britain in severe recession over the short run, says George Soros. The British may have some trials ahead, but they will survive to recover their losses.

“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 pound plunged to its lowest level in more than three decades immediately after the vote.”

Brexit may actually benefit Britain over the long term. Still, the European Union departure is exacting a toll on Great Britain right now. Standard & Poor’s decided to strip the U.K. of its perfect AAA credit rating, dropping them to an AA rating instead. Fitch, another credit agency, reduced the U.K. credit rating from AA+ to an AA rating, according to the Telegraph.

George Soros predicts that even the U.K. may not survive whole, though. Scotland and Northern Ireland voted to stay with the EU. Will they leave the EU or leave the U.K.? Will they have a choice?

“Moreover, the U.K. itself may not survive. Scotland, which voted overwhelmingly to remain in the EU, can be expected to make another attempt to gain its independence, and some officials in Northern Ireland, where voters also backed Remain, have already called for unification with the Republic of Ireland.”

The European Union exodus, according to George Soros, could deliver a united Ireland. Ireland has been lamenting their division as Northern Ireland and Ireland for nearly a century; so, perhaps, they will gain their own freedom from Great Britain during this time of restructuring. That would be an quite the outcome, as would an independent Scotland. Is George talking about a complete restructuring of Europe?

Brexit is playing havoc with the world markets. George Soros predicts, in his article on Project Syndicate, the economic repercussions of Brexit will continue to impact the entire world’s financial markets until Britain finally leaves the European Union completely.

“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 consequences for the real economy will be comparable only to the financial crisis of 2007-2008.”

The European Union, unlike the actual nations of Europe, is not likely to survive Brexit, according to George Soros. George is quoted in Forbes, elaborating on the demise of the EU.

“Now the catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Brexit will open the floodgates for other anti-European forces within the Union. Indeed, no sooner was the referendum’s outcome announced than France’s National Front issued a call for ‘Frexit,’ while Dutch populist Geert Wilders promoted ‘Nexit.'”

Brexit begs the question, which European nation will take the next exit from the European Union?

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