FX.co ★ EU might lose one of its strongest members

The blueprint of crucial changes in the EU structure is the essential cause of Britain’s conservative party. In the run-up to the European election, David Cameron, the UK Prime Minister has set out his broad agenda to reform the European Union and renegotiate Britain’s relationship with it. He highlighted the most painful problems such as a mechanism to deal with vast immigration, the preference of the UK business in favor of the single market, and a shield against unwanted European legislation. All these concerns will be tackled beneficially in case the Tory party wins the European election in May, 2014 and the general election in the UK in 2015. “No to a constant flow of power to Brussels. No to unnecessary interference. And no, it goes without saying, to the euro, to participation in euro zone bailouts,” David Cameron said in the statement. Besides, the policymaker guaranteed to hold the referendum in 2017 concerning Britain’s EU membership. With such promises, the Tory try to gain over those who support the exit from the EU, who account for 40% of the UK population. According to the flash estimates, the upcoming election to the European parliament might show the following voting pattern: the UK independence party might get 30%, the Labor party – 28%, and the Conservative party – 21%. Samuel Tombs, Capital Economics analyst believes, “Despite polls, the conservatives still keep a high chance to win the European election. Eventually, the Conservative party has proved itself as a good lobbyist of the UK’s interests in the EU.” Thanks to the Tory efforts, they made it possible to veto the new EU fiscal treaty, to reduce the EU budget, and to lobby the UK’s finance sector in the banking union. Taking these circumstances into account, Cameron’s plan might work out with a high probability. Indeed, the politician could gain support from Germany’s Chancellor Angela Merkel in the key issues, for example concerning immigration since a chaotic flood of economic migrants is posing a real threat to the EU countries. However, it will be complicated to find those who are in favor of Cameron’s policy to withdraw the UK from the EU among the countries who support the further European integration as it is the fundamental principle of the EU.