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DatabankOctober 1 2013

Can London survive outside the EU?

The UK's relationship with the EU has rarely been harmonious, but in recent years the heavy-handed regulations and onerous taxes perceived to be emanating from Brussels have seen this marriage teeter perilously close to divorce. A referendum could be called in the UK in 2017 regarding its EU membership, but how would the country – and London in particular – look should the vote call for a permanent separation?
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Can London survive outside the EU?

The UK’s Conservative Party has said that, if elected, it will launch a referendum on whether the country should stay or leave the EU, which it joined 40 years ago. The vote would take place by 2017. The UK, argue Eurosceptics within the country, is fed up with layers of heavy regulation coming from Brussels and with its wider-reaching influence on policies that jar with the UK's pro-market and pragmatic ways.

In the years since the crisis hit, the UK’s economy has struggled, which, as is the case in many other European countries, has fuelled nationalistic sentiment, playing into the hands of the right-wing UK Independence Party, which strongly opposes the UK's membership of the EU.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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