Euroland e centro financeiro londrino: consequencias da saida da GB da UE - John Springford

Friend on Facebook   Follow on Twitter   Forward to a Friend Video interview on 'The consequences of Brexit for the City of London'

The consequences of Brexit for the City of London by John Springford and Philip Whyte, 8 May 2014 The City of London will continue to be a global financial centre whether Britain leaves the EU or not. But there would be some serious risks to the City in the event of an EU exit. While there are some threats to the City posed by closer eurozone integration, they are hardly existential. And inside the EU, the UK government can use the European Court of Justice to ensure unimpeded access to the single market. If the UK quit the EU, London’s European pre-eminence would be at risk. The EU is making it harder for financial firms based outside the Union to access the single market, unless it deems their home country’s financial regulations to be equivalent to the EU’s. In short, the costs to the City of exit would outweigh the (largely illusory) benefits of regulatory sovereignty. John Springford is a senior research fellow at the Centre for European Reform, and Philip Whyte is former chief economist at the Centre for European Reform.