I don't know why the UK would want to stay in Europe if it means subjecting all finance to the German Central Bank, though. The French, Italians, Spaniards and Greeks, who can't seem to manage their own money, would benefit, but I don't see the benefit for the UK. Between the pound, not having a tax on financial transactions and having a superior legal system, the UK is far better off having a bit of distance between itself and the so-called entity of "Europe" (which is a myth). "Europe" is fraying, and I think that 2013 is just going to bring massive crises.
but I finally found it.
The UK is not and never will be in the eurozone, so with regards to finance they will retain their own policies. But to step outside of the single market would be a blow of massive proportions to the British economy, and British business is very much aware of that. And while it's not impossible to be in the single market while not being in the EU itself - Norway and Switzerland are in that position - such a thing has never been tried with an economy as big as the UK's, and it inevitably entails the obvious consequence of having to swallow some things which you don't have any say in. If you're a EU member state, there will also be regulations that are passed that you can't block on your own; but as a non-EU single market member, there are regulations that are passed that you can not only not block, but that you don't get the slightest say in. Albeit obviously in rather fewer domains.
Point is, it's obvious that Britain is far better off with something close to its current position of EU member with lots of special exceptions and opt-outs, than it would be as a non-EU member. And as the Economist argues, despite the resentment in many EU countries at the notion of the already privileged UK trying to negotiate yet more special exceptions and privileges, there may be political reasons why they could still have some success.
There are no doubt a lot of bad things one can say about David Cameron.
05/02/2013 10:17:52 PM
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Good for him. Now if he could just get the UK out of the EU... *NM*
05/02/2013 10:37:33 PM
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Did you read the Economist's piece on why that announcement was such a clever move?
05/02/2013 10:57:26 PM
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No, but I have a full subscription so if you link it I can read it.
06/02/2013 01:36:51 AM
- 433 Views
That took some effort to find...
06/02/2013 07:02:29 PM
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He kicks butt on C-SPAN during Prime Minister questions!
06/02/2013 03:35:26 AM
- 419 Views
He did miss a trick politically yesterday
06/02/2013 08:16:25 AM
- 471 Views
Maybe, but by staying out of it himself...
06/02/2013 07:07:14 PM
- 417 Views
It probably did hold his party together
07/02/2013 12:15:59 AM
- 528 Views
I guess it's a part of his attempts to modernize the Tories and appeal to young voters.
07/02/2013 08:17:54 AM
- 477 Views
This is commendable, but his austerity program wrecked the British economy. *NM*
06/02/2013 10:34:44 PM
- 249 Views