British Voters Can’t Fool French Fund Manager

Edouard Carmignac doesn't see this Brexit thing actually happening.
By Ems (Emanuel Sanchez de la Cerda) [CC BY-SA 2.0 de], via Wikimedia Commons

via Wikimedia Commons

Carmignac Gestion founder Edouard Carmignac spends a lot of time on the polo fields of England. You know, where the actual decisions about the U.K.’s future are made. Sure, 17.4 million Britons voted to leave the European Union, but they have no idea how expensive that would be. Too expensive to be left to democracy. So, sorry: They can’t have it.

“I have the highest regard for British intelligence and diplomatic abilities, and Britain has too much to lose by actually going for a real Brexit.

“We all know that the UK is a service economy, that most of the services are financial. It’s not easy to say from now on you cannot sell your financial products in Europe.

“It is so obvious that the role of financial services is so important to the UK that they will do all they can to preserve this gold mine.”

Here’s the good news for the increasingly angry British voter: They don’t really want to leave the EU, anyway. They just want Polish people to stop fixing their clogged pipes. And for all the pious talk about the principle of freedom of movement of people, those British diplomatic abilities will put an end to that.

“I don’t think that Europe will maintain the same freedom of movement in terms of populations so there will be a mutual compromise.”

Edouard Carmingac fund manager: “Brexit fears are proving unfounded” [The Telegraph]