The Place of Britain in a Future Europe

Martin Wolf of the FT, one of the world's leading economists,
argues that the status quo for the eurozone is untenable, and that
the crisis could trigger Britain's exit from the EU, or even the
break-up of the UK itself. Britain has become a semi-detached
member of the European Union, both psychologically and politically.
But the eurozone crisis is likely to alter that situation further,
whatever its outcome. The status quo for the eurozone is untenable:
it will either become more integrated or disintegrate. Either way,
the European Union will be transformed and so will Britain's place,
whether inside or, quite possibly, outside it.