Why Britain’s future is vested to the EU
The United Kingdom is often regarded as a unique case in the progress of European integration. It is usually described as an island on the Atlantic rather that an entity belonging to the European group of countries. This distinct identity can be traced back to the legacy of the British Empire, the preferential relations with the rest of the Anglo-Saxonic world along with its geographic location, namely being on the fringes of Western Europe and an island, which rendered any invasion nearly impossible.
For the reasons mentioned above, UK’s elite is particularly hostile to the European Scheme. Their position can be best summarized by Smith (1992) claiming that “established cultures are essentially antithetical to the development of a cosmopolitan culture, which poses problems for a European identity”. Nevertheless, the proposed referendum for the UK membership in the EU, promised by the Prime Minister David Cameron in January 2013, and a potential exit would pose dire threats to both Britain’s economy and society.
In the first place, United Kingdom is more interconnected with the continental Europe than is popularly believed. The total exports of services reached 97.3 billion pounds in 2011, which amounted to 50% of the total exports (Office for National Statistics, 2013). Given that the trade with the rest of the continents is not equally balanced (the Americas receive 28% and Asia 16%), a potential exit from the EU would mean that customs will be raised again in all UK exports thus making them uncompetitive compared to those of the EU members.
Moreover, European Union is favorably seen among UK employers. Nearly 85% of British manufacturers see clear benefits from the EU membership, such as the access to funds for innovation, which has reached the astonishing rate of 76.6% of the managers asked (The Manufacturers Organization, 2013). In addition, London-based companies concede that the membership is vital for a better performance of the UK economy (London First, 2013). Lastly, CBI UK’s premier business lobbying organization describe the EU membership to be at the best interest of the UK economy for employability.
However, universities in UK would be in peril should the British electorate decide to exit the Union. Nearly 132,000 EU nationals were admitted to UK higher education institutions in 2012, which is a record high for decades (Daily Mail, 2013). The vast majority of that student body comes from the debt-stricken countries of the European South and the Romania. Under EU law, they are entitled to low interest student loans and pay the same fees as UK nationals. In a potential withdrawal, EU nationals will be required to pay fees that fall under the “international student” category, that are nearly double the amount paid in present time. Subsequently, massive flows of students will be diverted to other top continental universities whose fees are really affordable. Great Britain then would have lost both a top class research body that staffs university research centers and competent workforce that usually occupy key posts in Britain’s core industries, namely shipping and financial markets.
In conclusion, Britain’s stay at the EU serves best the interests of big corporations that keep the money pumping into the economy and the society as a whole, given the number of talented people that seek a better future in UK. A UK with solid ties with the continent can easily face the challenges of the new century than a stand-alone country. Nevertheless, the outcome depends on the British electorate and the decisions they will make when they find themselves before the ballot box in the forthcoming referendum.
Stathis Koronakis, student at the Department of International & European Studies of the University of Piraeus
List of References:
CBI (2014) ‘CBI responds to Chancellor’s speech on EU reform’, 15 January. Available at : http://www.cbi.org.uk/media-centre/press-releases/2014/01/cbi-responds-to-chancellors-speech-on-eu-reform-1/ (Accessed:20/1/2014)
Daily Mail (2013) ‘ Number of EU students in Britain is at a record high-and we lend them 100 million pounds to pay their fees’, 9 June. Available at: http://www.dailymail.co.uk/news/article-2338206/Number-EU-students-Britain-record-high–lend-100million-pay-fees.html (Accessed: 20/1/2014).
London First (2013) ‘Transport and living costs biggest barriers to London’s success, say capital’s leaders’, 12 December. Available at: http://londonfirst.co.uk/transport-and-living-costs-biggest-barriers-to-londons-success-say-capitals-business-leaders/?utm_content=buffer23026&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer (Accessed: 20/1/2014)
The Manufacturers’ organization (2014) ‘EEF comment on Chancellor’s speech on EU reform’. Available at: http://www.eef.org.uk/releases/uk/2014/EEF-comment-on-Chancellors-speech-on-EU-reform.htm (Accessed at: 19/1/2014)
Office for National Statistics (2013) Europe remains the dominant market for UK exports and imports of services, 28 February. Available at: http://www.ons.gov.uk/ons/rel/itis/international-trade-in-services/2011/sty-international-trade-in-services.html (Accessed: 19/1/2014)
Smith, D. Anthony (1992) ‘National Identity and the Idea of European Unity’, International Affairs, 68(1), p.55.Why Britain’s future is vested to the EU