Douglas Carswell

15 FEB 2016

Betting on the EU is the risky option

Last week, European bank shares collapsed in value. Investors bet against the Eurozone in a big way. So why are Establishment elites still telling us it’s safe to stake our economic future on the EU? 

The European project has been an economic failure. It has led to sovereign debt crises in Greece, Spain, Italy, and Portugal. It has given Europeans years of economic stagnation and unemployment. It has helped to make Europe the world’s only declining trading bloc. 

For all the systemic economic problems Britain has, we’re in a better position than the Eurozone. That’s part of the reason so many EU migrants are coming to work here. But the Eurozone is a risk to our future too: if we’re too exposed to the Eurozone, its problems will become ours. 

The amount of trade Britain does with the EU has been consistently declining. But Brussels regulations still keep it artificially high. Tariffs on goods from outside the EU, coupled with the fact we can’t strike our own free trade deals with non-EU countries, make us depend on EU trade more than we otherwise would. 

Any investor will tell you that the safest option is always to diversify your portfolio. Overreliance on one asset is risky. If we leave the EU, we’ll keep trading with Europe, but we’ll be free to make our own trade deals with non-EU countries too. Diversifying our trade links is what will give us economic security. 

Hitching our economy to the sinking EU ship is a risk we can’t afford to take. The safe option is to vote leave, and take back control. 

1.       Listen to the markets: betting on Europe is the risky option

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