"Now the catastrophic scenario feared by many has materialized, making the collapse of the EU almost irreversible," – Soros wrote in a commentary published on the website of the newspaper consortium "Project Syndicate".
The investor also spoke about the possible consequences exit of Britain from the EU and in relation to Friday’s vote, his opinion does not require many interpretations.
During his trip to Scotland, Donald Trump wanted to release his first impressions about the Brexit, "appreciating" the choice made by the British people. In an interview with Italian newspaper La Stampa said that "The people in the UK have claimed their independence, the right to decide how to govern the country and determine their own destiny. It seems to me that this is a positive thing in general. The crumbling of Europe instead is a fact, not my opinion. It depends on the errors committed by its inadequate leadership.
According to the Ifo Institute of Economic Research, German business sentiment improved in June, despite all the turmoil caused by the EU referendum in UK. Economists were expecting the reading to disappoint, falling from 107.70 to 107.50, while the actual result was 108.7 points.
The German Business Climate is calculated by a number of surveys from different firms and companies in a handful of sectors, such as construction, wholesales, manufacturing, retailing, services, which altogether provide insight on the German economy. The given release is important, as it tends to also provide a preliminary forecast for future economic activity and the economic conditions in the Eurozone overall. Furthermore, the survey consists of approximately seven thousand businesses, which are asked to assess the economic outlook for the upcoming six months.
The Swiss National Bank (SNB) intervened in the foreign exchange market after the "yes" of Britons to Brexit, the exit of Britain from the EU. This was confirmed by the SNB in a statement today. The National Bank has announced that continues to remain active on the market.
The result of the referendum in the UK has resulted in growing pressure on the franc, the SNB noted. The euro rose to start the day below the threshold of 1.07 francs to 1.0624 francs, its lowest level since August 2015. The Swiss currency is seen as a traditional value of refuge in case of major political crisis.
Credit Suisse expects to Britain a period of recession in the second half of 2016, significant interventions by the Bank of England and a generalized economic slowdown eurozone.
The bank expects this scenario as a result of the success of Brexit in the referendum, calling it in a statement "is the most significant withdrawal from the need for integration since the Second World War. While the current output path is not yet clear, however, there are profound implications for Britain. we expect a recession in the second half of the year and monetary interventions by the Bank of England ".
It was a constant head to head, with constant reversals in the face at the end won the Leave (51.9) on the Remain (48.1) and Britain is outside the EU. High voter turnout, recording 72.2%. The vote, as well as to plunge the United Kingdom in uncertainty, is the most decisive defeat for the supporters of greater European integration after the Second World War and is likely to trigger a domino effect in other countries.
The initial rejoicing in the field of pro-EU has gradually given way to the joy of those who want Britain out of the EU. "Now we sing our anthem without Brussels telling us that it is wrong," said UKIP leader Nigel Farage commenting on the progress of the examination. It is "a victory for
real people, a victory for ordinary people, a victory of the people for good. We fought against the multinationals, the big banks, the lies, the big parties, corruption and deception, "said Farage, who defined June 23 as Independence Day in Britain.
The European Central Bank (ECB) will accept again the government bonds of Greece to junk status as collateral in refinancing operations. The decision to reopen a source of funding, remained closed for 16 months, should help restore confidence in the greek banking sector and, according to several economists and bankers, could lead to a partial removal of capital controls in the coming days.
Venezuela is at risk of default: according to a recent report of the rating agency Moody’s, is "highly unlikely" that Venezuela has this year of foreign currency sufficient to meet its payments. The default would hit before the state oil company, PDVSA, followed by the Caracas government.
The situation in the country is very serious and in all respects. The International Monetary Fund now estimates that GDP will fall by 8% this year and that inflation will rise to 480%. Foreign exchange reserves have fallen to $ 12 billion, the lowest level since 2003, of which perhaps just 1.5 to 2.0 billion are readily liquid.
