George Soros Bases His Brexit Opinion on Past History
As the day of Great Britain’s vote regarding whether or not to remain a part of the European Union draws near, everyone from George Soros to David Beckham is speaking their opinion. Soros is a well known and well respected financial investor who has been following the economics of the country for decades. Politicians often look to him for predictions, help deciphering financial data, and budget consult on issues big and small. The Brexit issue is perhaps the most important decision of the decade, and one that everyone is chiming in on but George Soros actually has a lot of informed knowledge that he is basing his decision on.
George Soros cites Black Wednesday and the political decisions that led to those devastating results over twenty years ago. Time and time again we have proof of political changes that have led to upheaval that has negatively impacted the financial health of entire countries. At the same time, there are just as important political decisions that were made that were capable of pulling countries out of financial ruin, or causing them to realize growth and prosperity. Knowing how a decision will impact a country in the future is a tricky science, and needs to take into account hundreds of different factors, and the many ways in which each change can impact the future.
Brexit and the Future of Europe
By looking at the past and the way in which similar moves have impacted the economy, Soros is able to give his best assessment about the country leaving the European Union. Like all other predictions though, there are so many factors that can change the course of events on way or another, and many in politics are quick to point this fact out. Even though George Soros has a lot to base his decision on, the past can’t always give us a clear idea of current or future financial health.
Knowing the way in which certain changes will impact different industries is important, and these are the factors that Soros has looked at. Individual industries stand to loose a lot, or at least face major changes to the way they do business, so huge moments like this can lead to upheaval that is difficult to adapt to. Given time, some industries will be able to find ways to adjust, but others will suffer completely. These changes will mean a lot for the economy and those changes can be immediate or not felt for years, and this is what Soros points out to the public. It is these long term effects that Soros wants everyone to pay attention to and consider when voting. Not everyone is able to see the long term factors that come into play, which is the service financial investors like Soros are able to provide.
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