Soros Says Russia New Rising Global Power - from TRUNEWS

Billionaire investor George Soros said on Monday he saw Russia emerging as a global power as the European Union collapses, in much the same way as the EU flourished when the Soviet Union started falling.

He added that he felt “more than ever” that the EU’s destiny hinged on Ukraine’s future, speaking in London at an event hosted by the Open Russia, a Russian opposition movement founded by Kremlin critic Mikhail Khodorkovsky.

Billionaire hedge fund manager George Soros speaks during a discussion at the Clinton Global Initiative’s annual meeting in New York, September 27, 2015. REUTERS/Brendan McDermid

The billionaire investor said he was confident that support for Britain to remain in the European Union would rise ahead of the June 23 vote, the Wall Street Journal reported.

Soros told the Journal there remained a good chance that the European Union will collapse due to the migration crisis, challenges in Greece and a potential British exit from the EU.

“If Britain leaves, it could unleash a general exodus, and the disintegration of the European Union will become practically unavoidable,” Soros told the Journal.

But he said recent strength in the British pound was a sign that a vote to exit the EU is less likely.

“I’m confident that as we get closer to the Brexit vote, the ‘remain’ camp is getting stronger,”Soros was quoted by the Journal as saying. “Markets are not always right, but in this case I agree with them.”

While betting odds have consistently indicated an In vote, opinion pollsters have so far painted contradictory pictures of how Britons will vote.

Soros bet successfully that the pound was overvalued against the Deutsche Mark in 1992, culminating in so called ‘Black Wednesday’ when John Major was forced to pull sterling out of the European Exchange Rate Mechanism (ERM).

(Reporting by Guy Faulconbridge; editing by Kate Holton)

(Reporting by Andy Bruce and Kit Rees; Editing by Elisabeth O’Leary)

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