BRUSSELS: The European Union reacted to David Cameron's re-election on Friday by offering early talks on reform of the bloc and saying it was open to changes that would produce a "fair deal" for Britain. But while few in Brussels or other European capitals would relish a British exit after a referendum he has promised by 2017, the EU executive was quick to warn the prime minister not to push his luck and seek to revise treaties on free migration.
The prime minister has said the UK is “perfectly entitled” to demand change, reports The BBC.
But leaders including Virgin’s Sir Richard Branson and BT’s Sir Michael Rake say calls for “wholesale” revision could mean “damaging uncertainty”.
Billions of pounds in taxes could be lost, they told the Financial Times.
While we are told day after day that not only is Europe 'fixed' but that Cyprus was not a template, it seems the bankers in the peripheral nations are a little less confident (never mind their record amount of reach-around-based domestic bond buying).
Tale of Two CountriesFearmongering in Scotland hits fever pitch as RBS and four other banks threaten to leave the country if Scotland votes "Yes" for independence. In Spain, Catalans staged a huge protest in favor of independence. The Spanish government hopes Scotland will vote "No" even though it seeks to halt a Catalan vote altogether. Let's take a close look at these stories starting with Scotland. RBS, 4 Other Banks Warn of Relocation to England if Scots Vote Yes