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Boris Johnson issues a hands-off warning to the EU

The Mayor of London Boris Johnson has today issued a hands-off warning to the EU which appears to be determined to reduce the influence of financial markets in the UK and take control of the European financial sector. A number of specific regulations have been introduced by the EU which many people believe are targeted purely and simply at the London market which is officially the number one financial centre in the world.

Despite the fact that the UK government has made no comment on the ongoing attacks from the EU, it is worth remembering that the UK financial sector brings in billions upon billions of pounds in taxation and additional benefits for the UK government and the UK economy. Even though the sector has been under severe pressure due to the recession and the part which many believe the financial sector played, it is vital to the UK economy and the future of the UK employment market.

Prior to today Boris Johnson has been fairly quiet on the ongoing threat from the EU, but apparently enough is enough and he has now sparked into life in defence of the city. However, due to the fact that the UK government has signed away a number of controls and regulations to the EU, it may be difficult for Boris Johnson to influence the situation in the short term.

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