A feeling of regrexit as buyers’ remorse starts to kick in

European leaders should recognise their own mistakes and acknowledge the democratic deficit in the current EU arrangements, writes George Soros

Until the people of the United Kingdom voted to leave the European Union, the refugee crisis was the greatest problem Europe faced. Indeed, that crisis played a critical role in bringing about the greater calamity of Brexit.

The vote for Brexit was a great shock; the morning after the vote, the disintegration of the EU seemed practically inevitable. Brewing crises in other EU countries, especially Italy, deepened the dark forecast for the EU’s survival.