George Soros Expects Support For EU To Rise Ahead Of Britain’s Referendum: WSJ

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

Soros told the Journal there was a good chance the EU could collapse because of the migration crisis, challenges in Greece and a potential British exit from the bloc.

“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 Soros said recent strength in the British pound sterling was a sign that a vote to exit the EU is increasingly less likely.

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

While betting odds have consistently indicated a U.K. vote to remain in the EU, opinion pollsters have so far painted contradictory pictures of how Britons will cast their ballots.

Soros bet successfully that the pound was overvalued against the deutsche mark in 1992, culminating in the so-called Black Wednesday when British Prime Minister John Major was forced to pull the currency out of the European Exchange Rate Mechanism (ERM).