Boris Johnson has poured cold water on fears over the potentially damaging impact of a Brexit on the City, also saying that London will continue to thrive as long as it invests in infrastructure.
The incumbent London mayor shrugged off some business leaders' concerns that exiting the European Union would be harmful to Britain, saying it wouldn't make much difference to the future growth of the City.
"London will continue to thrive in or out of the EU although were would be [a] period of a lot of uncertainty," he said in an interview with the Financial Times.
"The stakes are lower for our generation than they were for the previous generation."
"The 28 member states of the EU now make up 19 per cent of the world's gross domestic product. We have huge engagement and interests in Europe, but big growth markets aren't necessarily to be found in Europe."
Johnson stressed London's future success was dependent on infrastructure investment such as ensuring there are transport links to join up new housing projects.
Prime minister David Cameron is currently trying to renegotiate the terms of Britain's membership to the EU. Once complete, British voters will vote on whether they want to remain in the EU in an "in out" referendum, which will take place before the end of 2017.
Previous polls have suggested that the majority of business leaders want Britain to stay in the EU, nevertheless there was significant support for major reforms of the EU.