l IS Prime Minister David Cameron who gave the green light this week to an referendum on membership of the European Union, if the Conservatives win the next election. Cameron has been praised by his own party, criticised by his coalition partner, the Liberal Democrats and attacked by Labour. The business community has given a cautious welcome to the move. Cameron had little option but to call for the referendum as a result of the recent rise in popularity of the United Kingdom Independence Party (UKIP) and opposition to the EU within his own party. The rest of Europe seems rather surprised and concerned at the British move. Time will tell whether he was right or wrong.

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