Change in relationship with EU needed for UK to stay: Lloyds chairman

London

THE chairman of Lloyds Banking Group said there is no "compelling economic argument" for Britain to stay in the European Union without a significant change in its relationship with the bloc.

The comments by Norman Blackwell, who was addressing parliament's House of Lords in a personal capacity rather than as Lloyds chairman, are a boost to those campaigning for Britain to quit the EU in a referendum due by the end of 2017.