The uncertainty created by David Cameron’s policy on EU membership may cost the UK’s already troubled economy

Prior to UK Prime Minister David Cameron’s speech on the country’s relationship with the EU, Michael Emerson set out several hazards that his strategy was expected to face. Revisiting these hazards after the speech, he finds them to be mostly confirmed. He argues that Cameron’s policy is badly defined, politically unmanageable, creates uncertainty for investment, and implies a difficult and clouded scenario for secession if this were to happen. The best that can be hoped for in Cameron’s reformist agenda is some fine tuning of EU competences.