The Costs of Joining

We have now examined the principal claims made by those in favour of joining the Common Market about the alleged advantages Britain would gain from becoming a member of the EEC. I sought to prove that it would not be worth our while to join for the sake of the highly problematic political and military advantages our membership would secure. I argued that closer economic association with Western Europe would not add to the deterrent provided by our military association in NATO, and might weaken it if it were to lead to disengagement by the United States. My further point was that Britain’s membership in the Common Market, so far from reinforcing our existing friendly relationship, would be liable to produce the opposite effect because of the clashes of vital economic interests that are liable to arise from our closer association. I further sought to show that the case for joining the Common Market for the sake of the advantages of a larger market, the possibility of creating bigger firms, and the increased extent of free competition, are grossly overrated. So are the advantages of a free movement of labour and capital. Another claim I sought to dispose of was that membership in the EEC would solve our balance of payments problem or would cure the ‘English disease’. Finally I criticised as Utopian the idea of monetary integration culminating in the creation of a unified European currency.