Wednesday, January 9, 2013

Business Chiefs Warn Cameron Of EU Exit Dangers


Thu., January 10, 2013
David Cameron will damage Britain's fragile economy if he demands major changes that could threaten the country's relationship with the European Union, business leaders said on Wednesday, Reuters reported. In an open letter, the heads of some of Britain's biggest companies said Britain can't afford to quit a market of 500 million people that buys half of its exports. Other countries in the 27-nation bloc would probably reject Cameron's attempts to claw back powers from Brussels, isolating the country from its biggest trading partner, they said. "We must be very careful not to call for a wholesale renegotiation of our EU membership, which would almost certainly be rejected," they wrote in a letter to the Financial Times. "To call for such a move in these circumstances would be to put our membership of the EU at risk and create damaging uncertainty for British business." But asked in parliament about Britain's EU role, Cameron repeated his pledge to renegotiate its position. "There are changes we would like in our relationship that would be good for Britain and good for Europe," Cameron said. He is due to give a long-delayed speech setting out his European policy in mid-January, his spokesman has told reporters.

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