Published on 21 Jun 2016
Billionaire investor George Soros is issuing a stark warning if Britain would vote this week to leave the European Union. He says Britain leaving the E.U. would lead to a currency and stock market disaster. He predicts a "Brexit' would cause the sterling to drop quickly, even more so than when the pound crashed in 1992-a move that made him a billionaire. Currency traders are placing bets against "Brexit' ahead of Thursday's vote. Homebuilder Lennar
Published on 21 Jun 2016A Brexit won't be worse than the crisis in the early 1990s, when the pound collapsed following Britain's exit of the European Exchange Rate Mechanism, as billionaire George Soros suggested in an op-ed Monday. 'It won't be pretty for the pound - whether it's going to compare with the crisis in the 90s which Soros made his fame, perhaps not,' said Simon Smith, chief economist at FxPro, based in London. Soros made over $1 billion in the early 90s, betting against the pound. The referendum is held on Thursday.