European Student Think Tank

The out­come of twenty-six to one in favour of stronger integ­ra­tion and tighter fiscal and budget­ary rules has left the UK in the corner. Sel­dom has such a degree of unity been found among mem­ber states. Cri­ti­cism of Cameron was harsh and aggress­ive, but is London’s decision to remain out­side really that bad? Well, yes, but not neces­sar­ily. It might actu­ally be great news.

The fin­an­cial mar­kets have been sub­ject to con­sid­er­able cri­ti­cism in the last weeks; ana­lysts are wor­ried that fin­an­cial con­sid­er­a­tions will dic­tate decisions that should be taken via a demo­cratic pro­cess. By ana­lyz­ing the reas­ons and the effects of the cri­ti­cized beha­vior the con­clu­sion must be drawn that Europe in the long term should be grate­ful for the present warn­ings of the market.