will the EU leave Britain?

I have a feeling that a major turning point may be on the horizon. I hope I’m wrong.

The crisis in the Eurozone is like a bank run in slow motion. The lack of a genuine central bank is the cause – it means that important countries like Spain and Italy (and Ireland, Portugal, Greece) are at the mercy of the money markets without an oar to guide them.

The UK (and US) is not n this situation. Whenever problems arise, the Bank of England (and Federal Reserve) can take various actions to try to modify problems. They may not be enough, but they can be taken.

It’s now recognised that a central bank with real powers is needed for the eurozone.

Money means power, and a central bank means more power for the inner core of the EU. That means that the UK’s power to direct its own affairs is going to run against the EU. That in turn means a referendum which is going to force people to decide just what they want out of the EU.

The euro crisis is proving to be very important for us all. If we don’t lose our money, we are going to have to make a choice, and it may be a choice between the devil and the deep blue sea.

I know that many here would welcome an exit from the EU. I don’t – I want us to remian inside a more federal Europe, but the price must be a much more democratic Europe – very different from the bureaucratic despotism which semi-governs us now. Britian is powerful enough to fight for that – if we want to.

It may be that Britain doesn’t leave the EU – more like the EU leaves Britain.