Hugo Dixon is Editor-at-Large, Reuters News. He is the founder of Reuters Breakingviews. Before founding Breakingviews in 1999, which he edited until 2012, Hugo spent 13 years at the Financial Times, the last five as Head of Lex. He began his journalistic career at the Economist. Hugo was a Brackenbury Scholar at Balliol College, Oxford, where he gained a first class degree in Philosophy, Politics and Economics. Before that, he was a King’s Scholar at Eton College. He is the author of the Penguin Guide to Finance and Finance Just in Time. He was named Business Journalist of the Year 2000 in the British Press Awards. In 2008, he won the Decade of Excellence Award at the Business Journalist of the Year Awards. Follow Hugo on Twitter @hugodixon
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Britain has been playing a defensive game in response to the barrage of misguided financial rules from Brussels. It now needs to sell the City as part of the solution to Europe’s problems. The opportunity is huge. It could even help keep Britain in the EU.
Membership of even an unreformed EU is better than quitting. Exit would mean either not having access to the single market at a huge cost to the economy, or second-tier access without a vote on its rules. What’s more, if the UK stays in, it has a chance to reform the union.
Britain’s Conservative party will be tempted to move to the right on immigration and Europe to prevent more defections to the UK Independence Party after last week’s local elections. Business should urge it to stay in the centre.
- Hugo Dixon: Austerity debate misses half the point
- Hugo Dixon: Greece will probably pull through
- Hugo Dixon: Italy could do with market pressure
- Hugo Dixon: Cyprus is edging towards euro exit
- Hugo Dixon: Cyprus bank "resolution" a bad joke
- Hugo Dixon: Cyprus leaves banking union up in air
- Hugo Dixon: Cyprus controls an "omnishambles"