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As London Bickers Over `Brexit,' History Shows a City Can Fade

  • Capital's 9 million people generate 22% of British economy
  • Mayor challenges prime minister by advocating EU departure
Bloomberg business news

‘Brexit’ and Risks to the Pound

Cities don’t stay on top forever. Just look at Venice in the 15th century, Philadelphia in the 18th or even Vienna in the 19th.

It’s a lesson some Londoners worry is being forgotten when it comes to the U.K.’s membership of the European Union. As banks underpinning London’s wealth raise the alarm over leaving, the man who runs the city disagrees: Mayor Boris Johnson has declared support for the “out” campaign, as has his aspiring replacement, Zac Goldsmith.