There's much talk of banking and other business quitting the UK. So I was curious to note that the FT reports this morning that:
Citigroup is setting up a global commercial banking operation in London that will push into medium-sized corporate lending in the UK and Germany.
The move is part of a broader restructuring of Citigroup's corporate bank that reflects the efforts of Chuck Prince, chief executive, to boost organic growth while streamlining the organisation.
The simple fact is that banks and others won't quit the UK. This is a good place to do business.
They might try to shift their patents, licenced property and finance companies out of the UK, I agree. That can be tackled. I'm confident it will be. But real business is where people are - and there are 60 million people in the UK.