I’m not sure it does depend on that at all if you’re considering it purely from an economic viewpoint. It seems like you’re making more of a political argument. Yes some of your points relate to fiscal policy but is that an issue that has or will affected the U.K.?
Hypothetically speaking, let say in future there is a closer fiscal union and this creates some kind of negative effect, likely a Eurozone recession. It seems you’re suggesting we’d be more able to dictate our own policy to protect us, is that enough of a benefit particularly if we’ve sacrificed growth to get there?
Regarding the Italy poll, what people perceive and what effect it’s had are likely two different things. Or are you saying economists were polled?
Sent from my iPhone using Tapatalk
No it’s not a political argument
Many economists would tell you that the majority of the European countries in the Mediterranean are basket cases propped up by an artificially low borrowing rate driven by the European bank which in itself is driven by German interest rate policy
I doubt you would find any economist that would argue against that and would not concede that a downturn in the German economy would have a catastrophic impact which would result in major bail outs from net contributors
It’s unlikely long term growth will be sacrificed either as there will inevitably be a mutually beneficial trade arrangement - it’s absurd to assume otherwise
Italy has some if the biggest debt on the planet so it’s hardly surprising it views the Eu even more negatively than us. The difference is it can’t leave without actual bankruptcy as it’s tied to a monetary union. A union we will at some point be forced to support
the economic model is designed around Germany and predominantly to benefit Germany - again most economists don’t argue this point - the ability to self determine fiscal and monetary control is a huge benefit from a uk perspective (for obvious reasons Germany is the opposite) and even the slightest threat to that is not worth the risk
