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Boris Johnson comes to the aid of the City

The financial markets within the City of London have found an unexpected supporter in Boris Johnson the Mayor of London. As we have been suggesting for a few days, he believes that the threat from the EU to become more involved in the regulation of all financial markets within Europe does not bode well for London. It is no secret that the EU has long been trying to get a stranglehold on the London markets which are amongst the most competitive, busiest and popular in the world.

Boris Johnson, like so many other observers, suggests that an increase in European regulations would take away the competitiveness which London has held many years and could force hedge funds and investment managers out of the City. While he does claim that hedge funds have been "blameless" during the ongoing crisis there are few who would agree with his opinion but nonetheless is this a reason to chase hedge funds and investment managers out of London?

The problem is that the EU is looking to increase the stature and standing of the overall European financial markets when London is already head and shoulders above any other financial market in Europe. London has everything to lose and nothing to gain.

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