Thursday

30th Jun 2022

Bloomberg: City of London 'more profitable' inside EU

  • 'I think that London will be a financial centre no matter what' (Photo: David Harmantas)

The former mayor of New York City and businessman Michael Bloomberg said he hoped the United Kingdom would vote to stay in the European Union.

“I don't know what the British public is going to do, and it's not my job to tell them,” he told EUobserver and a handful of journalists in the European Parliament on Wednesday (22 June), one day before UK citizens go to the polls in a referendum that will determine whether the country will give up its EU membership.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

  • Former NYC mayor Bloomberg at the launch of the Global Covenant of Mayors for Climate & Energy (Photo: European Commission)

“But I hope from my point of view, from America's point of view, from my company's point of view, that they vote to stay in the EU. We'll see what happens”, he added.

Bloomberg was mayor of New York City, home of Wall Street, from 2002 to 2014.

This website asked him to reflect on the future of the British financial hub, the City of London. Some fear that after a British exit from the EU, companies would be tempted to leave.

“I think that London will be a financial centre no matter what,” Bloomberg said.

“The question is: would it be easier and more profitable, and will it be able to adapt to change better, if it is part of the EU? And I think yes it would be”, he added.

“I can only speak from my company's point of view and my perspective about the financial industry. The situation today is much better than it would have been without the EU or would be if you took the UK out of the EU”, he said.

The billionaire former mayor is founder and CEO of the financial data and media company that shares his name: Bloomberg.

He is also a special envoy for cities and climate change for the United Nations.

He visited Brussels on Wednesday to launch the Global Covenant of Mayors for Climate & Energy, a merger of a European and a global network of city leaders.

Speaking in the European Parliament alongside Italian centre-right MEP Giovanni La Via, he praised the European project.

“We appreciate in America everything that the EU does. I've always been a big EU fan,” he said.

“If you think about it, the real benefit of the EU to me has always been: it's taken a continent where we had an awful lot of wars, and it's made peace for a lot of years, and helped the populations of every country grow and deal with the changing world.”

Column

One rubicon after another

We realise that we are living in one of those key moments in history, with events unfolding exactly the way Swiss art historian Jacob Burckhardt describes them: a sudden crisis, rushing everything into overdrive.

News in Brief

  1. Russia threatens Norway over goods transit
  2. Russia urges Nato not to build bases in Sweden, Finland
  3. New president for European Committee of the Regions
  4. Gas flows from Spain to Morocco, after Western Sahara row
  5. BioNTech, Pfizer test 'universal' coronavirus vaccine
  6. UK sanctions second-richest Russian businessman
  7. Hungary permits emergency supervision of energy firms
  8. Bulgaria expels 70 alleged Russian spies

Stakeholders' Highlights

  1. Nordic Council of MinistersNordic ministers write to EU about new food labelling
  2. Nordic Council of MinistersEmerging journalists from the Nordics and Canada report the facts of the climate crisis
  3. Council of the EUEU: new rules on corporate sustainability reporting
  4. Nordic Council of MinistersNordic ministers for culture: Protect Ukraine’s cultural heritage!
  5. Reuters InstituteDigital News Report 2022
  6. EFBWW – EFBH – FETBBHow price increases affect construction workers

Latest News

  1. If Russia collapses — which states will break away?
  2. EU Parliament interpreters stage strike
  3. EU's post-Covid billions flowing into black hole
  4. Nato expands and reinforces on Russian flank
  5. EU Commission says it cannot find messages with Pfizer CEO
  6. EU ministers sign off on climate laws amid German infighting
  7. EU presidency still looking for asylum relocation pledges
  8. Finland and Sweden to join Nato, as Erdoğan drops veto

Join EUobserver

Support quality EU news

Join us