That Europe is caught up in a major financial crisis isn’t news to anyone. Standing right at the crossroads, the Eurozone will either muddle through and risk another crisis onset in the near term or having scraped through its worst crisis in decades take strong steps on the necessary medium and long-term reforms.
But what our British friends may not realize is how the vaunted special relationship is also coming to a crossroads. Prime Minister David Cameron’s large-sized gamble on the UK’s future European destiny has sent ripples of worry across the West, not least in Washington. The US’s senior Europe diplomat Philip Gordon made this abundantly clear. The Obama Administration’s view coalesced in 2011 in the run up to Cameron’s shaky performance at the emergency EU summit in Brussels.