Two Financial Backers of Brexit: Britain Will Not Leave the European Union

Two of the main financial backers of Brexit say that in their view, the government will ultimately abandon Brexit and Britain will remain in the European Union. Peter Hargreaves and Crispin Odey, in an exclusive interview with Reuters, stated that despite the victory of their campaign in support of Brexit, it now seems that the government and political decision-makers in the country will eventually abandon Brexit. Their pessimism comes as the British Parliament has reached a sort of deadlock regarding Theresa May's agreement with the European Union for Brexit, thus questioning Britain's exit from the Union and how it will occur. Peter Hargreaves said that stakeholders and political decision-makers in the country are determined to prevent the implementation of Brexit, which will lead to a generation of distrust in British politicians. According to him, it is likely that the British government will first request the European Union to extend the official deadline for Britain's exit and then hold another referendum. Peter Hargreaves, 72, one of the wealthiest citizens of Britain, contributed about $4 million to the Brexit campaign. He added, "I have completely lost hope, and I believe Brexit will never be implemented. EU supporters have invested in the idea that people will become so frustrated with the situation that they will ultimately accept remaining in the EU. The issue is that if the implementation of something is delayed for a long time, people will no longer be very angry." Reuters adds that reversing Brexit would be one of the most extraordinary reversals in British political history, and currently, holding another referendum faces serious obstacles. Both major political parties are committed to implementing the result of the 2016 referendum and exiting the EU. However, Crispin Odey, who has contributed about $1 million to pro-Brexit groups, says he believes another referendum will not be held, but at the same time, Brexit will not be implemented. He added, "In my opinion, given the current composition of the British Parliament, Brexit will not be implemented." The British Parliament is considered pro-EU since about three-quarters of its members voted to remain in the EU in the 2016 referendum. Both Mr. Hargreaves and Mr. Odey stated that one of the main reasons for their disappointment is the lack of clear leadership. Crispin Odey said, "Unfortunately, no one is leading the Brexit supporters; it is without leadership, and this is a big problem." Mr. Odey added that if another referendum is held, he will still financially support Brexit supporters, but Mr. Hargreaves said he has not yet decided. Other financial backers of the Brexit campaign are more optimistic about the success of the plan. For example, Paul Marshan said abandoning Brexit would be a mistake and very damaging.