Soros Says New UK Elections Could Cancel Brexit

Brexit negotiators from Britain and the EU began formal talks on the U.K.’s exit from the bloc on Monday, however, billionaire financier George Soros predicted that if all goes well, both parties could look to cancel divorce proceedings before too long.

“The fact is that Brexit is a lose-lose proposition, harmful both to Britain and the European Union. It cannot be undone, but people can change their minds,” Soros wrote in The Mail on Sunday, a right-wing leaning tabloid newspaper in the U.K.

“The divorce process would take at least five years, and during that time new Elections would take place. If all went well, the two parties may want to remarry even before they have divorced,” he added.

Speaking in Brussels on Monday, Britain’s Brexit minister, David Davis, said he hoped the U.K. and Europe would be able to form a “new, deep and special partnership” as a result of formal negotiations. Davis added London sought to find a “positive and constructive tone” in the ongoing discussions.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza