A possible Brexit would not undermine the City of London’s’ access to Europe, according to UBS chairman, Alex Weber.
Weber, former head of the central bank of Germany, Bundesbank, told The Telegraph that London would still enjoy access to Europe even in the case of a Brexit.
“If the UK were to leave the EU I think there would be two or three years of heightened uncertainty but pretty much the same rights,” says Weber.
As reported in The Telegraph, the City of London is widely seen as pro-EU because it fears losing access to European markets, a fear Weber believes in misplaced. Rival business groups are arguing over the relative merits of leaving or remaining in the EU.