Nick Clegg "Be careful what you wish for" (Fylde Liberal Democrats)

Fylde Liberal Democrats <info@fyldelibdems.org.uk>

Nick Clegg "Be careful what you wish for"

December 11, 2011 11:14 AM

Nick Clegg, speaking on today's Andrew Marr show said: " Whatever your views about the EU, to be a minority of one in a field of 27 is NOT a good result". "There is nothing 'Bulldog' about the UK hovering on the margins".

Setting aside the crowing & axe grinding of some print media & politicians, the more considered views expressed in a letter to the Financial Times from a London City financial executive deserve attention. He wrote: " The business model of the City only works if it works for the EU as a whole - - - the City can only maintain its ascendency in financial services as a fully committed member of the EU. Nothing could be more damaging to foreign investment in the UK & the City than the idea that the UK would leave the EU". We should not forget that the City is dominated by foreign banks which have absorbed most of the 'British' institutions. The FT Editorial warns that Cameron may well have worked against UK interests & put his goal of repatriating powers beyond reach. These commentators are the people the Cameron 'veto' was all supposed to be for.

Nick took the statesmanlike line that the Government needed to work hard to prevent these concerns becoming reality and the coalition will strive to ensure that this setback does not turn unto a huge divide."If the coalition were to fall apart that would be hugely more damaging for Britain".