Hungary EcoMin: Brexit may feed eastern unrest in two-speed Europe

Dhwani Mehta FXStreet

In an interview in Budapest late-Monday, Hungarian Economy Minister Mihaly Varga noted that Brexit may speed the creation of a two-speed European Union, potentially igniting social unrest in eastern Europe.

Key Quotes:

“There’s a real threat that with Britain leaving the EU, some very strong actors who favor a two-speed Europe will say that those who’re in the euro area are in and those who are out of the euro are out.”

“The threat is that the gap between developed and less-developed EU member states won’t narrow significantly” in a two-speed, post-Brexit Europe and this may carry with it “the potential to generate social unrest.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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