Billionaire investor George Soros has warned that Britain's vote to leave the European Union makes the disintegration of the bloc "practically irreversible", BBC reports.
However, he called for thorough reconstruction of the EU in an attempt to save it. Before Thursday's UK referendum, Soros had warned of financial meltdown if Britain voted to leave. In his latest comments, he said the effects of the decision would damage Britain.
"Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short- to medium term," he wrote on the Project Syndicate website.
"Now the catastrophic scenario that many feared has materialised, making the disintegration of the EU practically irreversible. The financial markets worldwide are likely to remain in turmoil as the long, complicated process of political and economic divorce from the EU is negotiated," Mr Soros wrote in his latest article.
