“For Sweden, keeping Britain in the EU is a very high priority. We have a big banking sector and a lot of work goes through the City of London. If the UK leaves the EU it could create a lot of problems,” he said.
“It is important for Europe to have a financial hub. It is not realistic to think that Frankfurt or Paris can compete.”
He expressed some sympathy for David Cameron’s decision to hold an in-out EU referendum in 2017, but said Sweden would not be following suit. Like the UK, Sweden is a member of the EU but not of the euro.
“We see the euro countries moving in a direction we don’t believe in. To create a club within a club is not great for us. The British concerns are obvious – how are we going to find a long-term working relationship,” he said.
A number of EU leaders said they would be better off with Britain as a member. “The UK is a growth orientated country – and they share our values on openness and free trade. They help drive those agendas,” he said.
Dutch Prime Minister Mark Rutte, said: “Denmark, Sweden, the UK – we need them to stay in the union. They are focused on economic prosperity. We need that inspiration.”
Mr Rutte, Mr Borg and Irish Prime Minister Enda Kenny said enormous growth could be generated if the EU properly opened up its single market in services and digital technology, as well as finalising free trade agreements with North America and Japan.
The UK has been at the forefront of efforts to push those up the EU agenda.
Mr Borg added: “It is vital for all of us that the UK to stay in.”
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