London and the Brexit — “we are not used to obeying rules we haven’t set”

London is Europe’s biggest financial centre. One of its main factors of growth has been its access to the European single market. During history Britain had learned to cooperate with various markets of different currencies — I am pointing to the Empire here. Having trained its expertise in this field, London, as the headquarter of finance, is now the biggest centre for trading the euro. Why do the British risk this promising position? No other continental European city has achieved such a financial strength.

Recently, a founder of a hedge fund criticised the European policy as a mean to “turn us into a colony [but] we are used to an empire. We are not used to obeying rules we haven’t set.”

I really don’t know whether staying in the EU will really be the better decision for Britain with respect to future economic developments. But what I know is that such farfetched arguments make me angry! David Cameron’s speech on Europe on 23 January 2013 was blackmailing: “we don’t like it as it is — we are Great Britain and if you won’t make any confessions to us we will leave the EU, we don’t really want to, but we will and you will be hurt!”

At least this was my impression. David Cameron’s speech and the hedge fund founder`s argument represent an often drawn picture of Great Britain: the spoiled girl who still has not learned that community means to adapt, to follow, to have their say, to argue, but not to play the weeping girl as soon as something did not work out the way she wanted it to be and then sullenly block the cooperation.

There are well-grounded arguments that favour the Brexit as being able to establish a more liberal and international orientated market like the one of Singapore. And there even might be more. But as long as the most blatant argument is the apparent ignorance of continental Europe towards the British needs, I do not think that the Brexit will benefit Britain in any way.

Sources:

http://www.ft.com/cms/s/0/e2d1a8a0-d725-11e5-969e-9d801cf5e15b.html

http://www.ft.com/cms/s/2/e90885d8-d3db-11e5-829b-8564e7528e54.html