Brexit: How Realistic is a 20% Fall in the Pound?
Billionaire investor George Soros said the pound may slump more than 20 percent against the dollar if British voters decided to leave the European Union, a devaluation bigger and more disruptive than when he profited by betting against the currency in 1992. “Brexit would make some people very rich -- but most voters considerably poorer,” Soros wrote in an op-ed published in the U.K.’s Guardian newspaper on Tuesday. The pound would fall by at least 15 percent if the nation votes to leave the trading block and potentially more than 20 percent to below $1.15, the investor wrote. London Business School Executive Fellow David Pitt-Watson discusses with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."
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53:57 - Stefan Schneider, chief German economist at Deutsche Bank, discusses the outcome of the German election, his outlook for the economy and how much risk he sees in the Brexit negotiation for German industry. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)