Leaving the European Union would be a bad idea for England, particularly its financial sector, Goldman Sach’s Chief Operating Officer Gary Cohn told the BBC. Cohn said Goldman Sachs prefers to operate in London, second only to New York in the area of finance. At issue is a potential referendum the Prime Minister David Cameron said would be available to the British public if the Conservatives win in the upcoming general election, and a growing number of the British public are turning toward Euroskepticism.
Cohn said, “I think for the UK it’s imperative to keep the financial services industry in London. We all want to stay in London. I think that having a great financial capital of the world staying in the UK and having the UK be part of Europe is the best thing for all of us.”
The business community, according to marketbusinessnews.com, are supportive of staying part of the EU. The Confederation of Business Industry found that 78% of CBI members would vote to stay in the EU with 77% of smaller business owners voting “yes.” The Chief Executive of Business in Britain said that this isn’t the first time Goldman Sachs has intimated it might move its operations from London. The last time was when the UK was deciding whether or not to join the EU. “They were wrong then, and they are wrong now.”