The City of London could be in for a rude awakening if the United Kingdom votes to leave the European Union. While bankers and politicians have spent the week downplaying any possible negative externalities associated with "Brexit," the name given to the UK's potential withdrawal from the EU, there still exist a number of potentially damaging consequences, which could indeed threaten the City's position as Europe's financial hub. Work must be undertaken now by the British government, as well as by firms in the City, to prepare for a possible Brexit. If not, Wall Street, as well as other budding financial centers on ... (full story)