Don’t drape the City in a Union flag: it’s an asset to all Europe

Commentary feature. United Kingdom diplomacy will soon be tested to the limit as the British government defends the City of London’s interests in the face of a welter of new EU legislation that will shape the financial services industry for a generation.

Writer argues that it is a difficult time to make the case, but the UK must ensure that Europe sees the dangers of undermining the competitiveness of a great European success story. Only London has critical mass as a EU-located global financial centre, to the wider benefit of all of Europe. The future is an inter-continental struggle between New York, a European hub in London, and centres in Asia.