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Brexit: Leading Donors Say UK Will Reverse Decision to Leave EU

folder_openUnited Kingdom access_time2 months ago
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Local Editor

Two of the biggest donors to the Brexit campaign said they now believe the project they championed will eventually be abandoned by the government and that the United Kingdom will stay in the European Union.

Peter Hargreaves, the billionaire who was the second biggest donor to the 2016 leave campaign, and veteran hedge fund manager Crispin Odey told Reuters they expect Britain to stay in the EU despite their campaign victory in the 2016 referendum.

As a result, Odey, who runs his hedge fund Odey Asset Management, said he is now positioning for the pound to strengthen after his flagship fund previously reaped the benefit of betting against UK assets amid wider market fears about the impact of Brexit.

The donors' pessimism comes amid deadlock in Britain's Parliament over the exit deal that Prime Minister Theresa May has struck with the EU, which has cast significant uncertainty over how, or even if, Brexit will happen.

Source: News Agencies, Edited by website team

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