Soros: Brexit is a 'lose-lose' proposition for Britain and EU

In a note written on Monday, Soros said Brexit was a "lose-lose" situation for both the UK and the EU although the UK, in particular, is facing a "tipping point". Although the UK initially showed resilience against Brexit risk, a weaker sterling has driven up the prices of goods, with inflation hitting 2.9% in May, leading to less consumer spending. According to Bloomberg, Soros said: "We are fast approaching the tipping point that characterises all unsustainable economic developments. Sterling plummets to lowest level since 1985 as UK votes to leave the EU "The fact is that Bre...