Does British business really believe in Europe?

Big business in Britain will tell you it supports membership of the EU. But its investments tell a different story, says Matthew Lynn.

When David Cameron promised a referendum on British membership of the European Union, it looked like one of those easy pledges politicians make when there is little risk of having to carry them out.

The government was behind in the polls, the economy stuck in permanent recession, and the coalition coming apart at the seams. The chances of Cameron being PM for a second term, the time when this voting would take place, looked remote.

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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.