European rescue could spell long-term pain for UK

"It's Solomon's choice - the choice between a eurozone that implodes, inflicting huge collateral damage on the UK and blowing apart the coalition government's plans to go into the next election with a growing economy and stronger public finances," said Philip Whyte of the CER. "Set against that, (there is) the longer term problem of a more tightly integrated euro zone resulting in growing British isolation in the European Union." ..."There's a view among the most eurosceptic that Britain's future does not lie in the EU in any case," Whyte said. "They are saying Britain should withdraw from the EU and then trade with it governed by WTO rules."