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US Banks Endorse British Prime Minister To Stay In EU

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JP Carroll National Security & Foreign Affairs Reporter
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Two top bankers at Goldman Sachs have officially endorsed British Prime Minister David Cameron’s campaign to keep the United Kingdom in the European Union ahead of a June 23 referendum.

The jobs of thousands of Goldman Sachs employees are at risk if the U.K. decides to leave the EU, which would potentially force the bank to move its European headquarters to the likes of Frankfurt or Paris. Goldman’s Co-CEOs of the firm’s International Division made their views clear in a public letter in the British daily The Times along with the CEOs of several U.K.-based businesses.

It was reported Jan. 20 by Sky News that the renowned investment bank intended to donate six figures worth of political muscle to the campaign fighting to convince British voters to keep the U.K. in the EU. U.S. mega bank JPMorgan is also looking to get involved in ensuring the British people make the choice that is best for the bank’s bottom line, according to The Guardian.

Public backing of a political effort of this sort by two senior Goldman Sachs employees “is pretty unusual,” according to Kamal Ahmed of BBC News. The open letter states in part, “We believe that leaving the EU would deter investment, threaten jobs and put the economy at risk.”

It is uncertain how Brits will vote when they go to the polls for the June referendum. Prime Minister David Cameron’s Conservative Party is divided, as was demonstrated by the decision Feb. 22 of popular London Mayor Boris Johnson to support leaving the EU.

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