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TOPIC: City of London could survive out of EU, say top economists

City of London could survive out of EU, say top economists 27 Nov 2013 22:27 #1

  • pheony
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Britain could exit the European Union and keep its place as one of the world’s leading financial services centres, according to leading City economists.
Gerard Lyons, the chief economic advisor to London Mayor Boris Johnson and the former chief economist of Standard Chartered, said the City of London’s success was “not dependent” upon the UK remaining part of the EU.
Mr Lyons admitted it would be “optimal” for the country to stay within the union, but said there was no reason London would not remain one of the world’s major centres of finance if the UK left the EU.
“If the British people voted to leave, I still think we could make a success of it whatever happened,” he said.
His comments were supported by Jim O’Neill, the former chairman of Goldman Sachs’ asset management business, who said the City should not be “constrained by dumb reform” in Europe.
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