By all accounts, the speech delivered by UK Prime Minister David Cameron this morning outlining his vision for a British disengagement with the EU was short on substance, contradictory and hackneyed. He mixed metaphors, made embarrassing errors reflecting a lack of EU knowledge and managed to enrage his EU partners even without having made specific demands.
But despite its rhetorical
flaws, Cameron’s speech will be one for the history books. With three words - "in/out
referendum" – Cameron has plunged the UK into four years of economic
uncertainty. The prime minister will have the dreaded ‘Brexit vote’, but only
in 2017, after the next election. With this he hopes to placate the fiercely eurosceptic
wing of his party while at the same time kicking the can down the road. But the
long time frame, business leaders and non-EU governments have warned, could be hugely damaging to the
British economy. Investors will likely be hesitant to invest in the UK when their
future in the European market is uncertain.



