Why big business is turning against the European Union

The business community has always been the EU's most steadfast champion, says Matthew Lynn. But now its support is wavering, the EU may struggle to survive.

The European Union has never been greatly loved by many of us. Most electorates have accepted it grudgingly at best. Its endless treaties and constitutions regularly get defeated when put to a vote. Through its half-century of existence in one form or another, there has only been one sector of society that has consistently supported it big business.

There was no great surprise about that. Industry, as much as any other group, votes with its wallet, and the EU for most of its existence was a resolutely pro-business organisation. It pushed for open markets, and the free movement of labour and capital policies that help companies.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.