City of London commentators lent support to the clawback of powers from the European Union to protect UK financial services, although stopped short of backing a British exit from the 27-nation bloc following a speech by Prime Minister David Cameron promising an "in-out" referendum on the issue.

The UK premier said that, if re-elected at the next election in 2015, a Conservative government would renegotiate the country's relationship with the EU before holding a national vote on its membership.