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Is the UK more dependent on the EU than ever before?

While other European economies such as France and Germany continue to pull away from recession and back into a growth phase, the UK has been left behind and in significant need of additional "tender loving care". There are now concerns throughout the UK business arena that this relative weakness in the UK economy is leaving the government wide open to further pressure from the EU Commission and further meddling in UK affairs.

Only last week we saw the EU Commission order Lloyds bank and Royal Bank of Scotland to sell certain assets and reduce their bank branch networks in the UK. Even though the UK government effectively jumped the gun and announced these moves as part of their own plans, there is no doubt that the initial impetus came from the EU Commission. The UK is at the moment hanging onto the shirt tales of fellow EU members and will remain in a fairly weak position for the foreseeable future.

It is an open secret that the EU Commission would like to meddle more and more in the affairs of the London financial markets, which are renowned around the world, and effectively transfer control to a central EU regulator. Is the UK government strong enough to hold back on this, or will they be forced to give up more power in exchange for assistance with the UK economy?

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