Just looking at yesterday’s stories.
Cameron says Brexit would put a bomb under the economy.
Pro-EU MPs will keep Britain in the Single Market.
The pound falls as opinion polls report growing support for Brexit.
And – wait for it, wait for it, – talk of constitutional crisis.
Yawn……….. Wake me up when it’s all over please.
I am reminded that David Cameron in his Bloomberg speech said this:-
“I understand the appeal of going it alone, of charting our own course. But it will be a decision we will have to take with cool heads. Proponents of both sides of the argument will need to avoid exaggerating their claims.
Of course Britain could make her own way in the world, outside the EU, if we chose to do so. So could any other Member State.”
So, cool heads and no exaggerated claims is the order of the day. How does that square with putting a bomb under the economy and talk of a constitutional crisis if we don’t leave the Single Market after a leave vote?
On that last point, the question on the referendum ballot paper concerns whether we remain in or leave the European Union, no mention of the Single Market.
Here’s a suggestion.
The simple way to defuse the economic uncertainty is for David Cameron to adopt the EFTA/EEA option, where Britain, if it decides to leave the European Union will seek to stay in the Single Market by joining EFTA and through that the EEA.
What effect would this have? Trade with the EU would continue as before making much of the economic uncertainty disappear. Yes there will be unknowns but Britain’s trading relationship with the EU will remain very similar to the trading relationship it has now. The markets will be calmer, the Brexit time bomb will not go off, and the pound will stabilise.
As June 23rd approaches if the Leave campaign gathers a plausible lead and keeps it going into polling day the Chancellor and the Prime Minister will presumably have to reiterate their commitment to the Single Market.
For Britain, being in the EFTA/EEA will not be an ideal arrangement but it will be a useful transition until Britain negotiates a lasting deal more suited to its circumstances. That may take some years.
For the rest, Dr. Richard North has it that the debate is going underground. And so the legacy media can whip up whatever frenzy they like because people are tuning out. They are taking their discussions to social media and getting their information from more reliable sources, leaving the noisemakers to do what they do best – make noise.