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It is also most unlikely that Britain would throw out its financial services regulation if it quit the EU. It needs rules to stop the system blowing up. And it makes sense to coordinate these rules internationally to make sure things don’t fall through the cracks as they did when Lehman Brothers went bust in 2008. It’s true that Britain would be free to uncap bankers’ bonuses. But would that really be a populist priority post-Brexit?
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