After this morning’s news it all seems academic. Cameron followed his instincts and the UK is pretty well out of Europe now. The 17 plus 7 countries will carry on without us. There is no longer a need for a referendum, we are technically out of Europe. We will not even be invited to their monthly meetings.
Is it a time to rejoice? Time alone will tell.
Depends on how the relative economies shape up?
The eurozone will suffer a long economic decline, it will be two speed, the falling EU and the rest of the world.
If the Euro survives, and this latests plan will not ensure it, the crap economies will suffer long, increasing, austerity-induced unemployment and economic stagnation.
What will actually happen is there will be referendums and elections to get out of the this deal. Germany wil NEVER bail out the weak ecomomies and those countries will default out of the EU/Euro.