Carney Says City of London's Role Would Dwindle in Brexit Sunset
- Bank of England governor testifies to House of Lords panel
- EU membership said to buttress capital's dominance of finance
The Brexit Debate: What Happens if the U.K. Leaves the EU
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The City of London should expect its preeminent role in the global financial system to fade if Britain leaves the European Union, according to Mark Carney.
The governor of the Bank of England -- the de facto custodian of the capital’s financial center -- told lawmakers on Tuesday that membership of the bloc buttresses London’s dominance of the international banking landscape. Leaving the EU would probably diminish that, he said.