JP Morgan Warns UK of Exit

Alpha Banker

Increasing skepticism within Britain about maintaining the nation’s current status within the European Union may create more economic problems than already exist. The financial powerhouse JPMorgan states that Britain’s power base in transatlantic trade as well as its ability to resolve regulatory disputes may crumble if it reduces its commitment to the EU.

JPMogan recently issued a statement to the UK Treasury claiming that Britain will be more successful negotiating cross-border rules and regulations if it remains part of the EU. In the statement, Daniel Pinto, the co-chief executive of JPMorgan’s Corporate & Investment Bank within Europe, stressed the difficulties of implementing rules across the globe that were coherent without the cooperation and coordination provided by membership agreements in place between partners in the EU.

He urged the UK to consider the value of resolving cross-jurisdictional disputes by maintaining membership within the EU. Bilateral discussions, he indicated, make it more difficult…

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