Soros: Brexit Has Unleashed A Crisis in Financial Markets

Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Brussels on Thursday. “This has been unfolding in slow motion, but Brexit will accelerate it. It is likely to reinforce the deflationary trends that were already prevalent,” the billionaire investor said. Soros rose to fame as the money manager who broke the Bank of England in 1992, netting a profit of $1 billion with a wager that the U.K. would be forced to devalue the pound and pull it from the European Exchange Rate Mechanism.

WPP CEO Says Brexit Uncertainty Is Difficult for Business
09:21 - Former Bank of England Governor Mervyn King and Sir Martin Sorrell, chief executive officer at WPP Plc, discuss the Brexit endgame and how U.K. businesses are being impacted by negotiations. They speak with Bloomberg's Francine Lacqua on "Bloomberg Surveillance." (Source: Bloomberg)
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