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FSA pro-Euro stance

The Financial Services Authority has warned London could be threatened as a leading finance centre if the UK never joins the single European currency.


FSA chairman Howard Davies is saying Governments committed to staying out of the Euro indefinitely might deter large financial institutions from building on their London presence.


Davies says: “I think for the moment, where we are outside the euro but with a government that is reasonably well disposed to it, we face no immediate threat. You have to ask yourself, if we had a government that said we are not going to join, whether that would change.”

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