Markets  |  January 23, 2013 10:58:00, updated

British exit from the EU?

British Prime Minister David Cameron in a speech today in London's financial district, said he will give the British the end of 2017 to express themselves in a referendum on the question of the remaining countries in the European Union (EU). A prerequisite of the referendum is to win the next election, to be held in 2015.

"It will be a referendum on whether to stay or leave," said the Prime Minister with the fact that if the UK decided to withdraw from the European Union, it would be a "one-way ticket, not the reverse."

Britain, as is well known, never abundant love of the EU and has always been a big critic of some integration steps. Brits in denial that this decision could somehow diplomatically or economically at risk.Cameron said that the British do not want to isolate from the world, but on the other hand, the degree of disillusionment with the European Union has already reached the peak in England, so Cameron must act.

The sixth largest economy in the world would apparently love to stay in the European Union, but it must make a radical reform measures that will lead to the implementation of the five main principles of the TFEU. They are: competitiveness, flexibility, honesty, responsibility to democracy and especially leaving more power in the hands of individual states at the expense of deepening integration.

British Prime Minister added that the weakness of its economy sees a loss of competitiveness, the debt crisis is spreading to Europe, jeopardizing its export and declining support from conservatives population.

Conservatives (the current ruling party, headed by David Cameron as prime minister) are starting to lose preferential votes, after he pushed through a lot of austerity programs. Labour is once again back in the limelight and just move that Cameron did today, could reverse the situation and could contribute to the promotion of popular conservatives in Great Britain.

Other members of the European Union, of course, access to the Union not like London. They argue that Cameron is behaving as if Union was a restaurant menu, from which you can choose what he likes and what is not. The U.S. position, the faithful ally Britain to leave the EU is also negative.

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