
The UK will be forced to join the euro or leave the European Union if the country does not secure "considerable reforms" to the setting of EU financial regulation, a Europe Economics report, commissioned by Business for Britain (BfB), has warned.
The ****hing report said since the 2008 financial crisis and the eurozone crisis of 2010, the nature of EU financial regulations have changed significantly and that the UK's influence on EU-level financial services regulation has declined markedly.
"Britain's influence upon EU financial regulation has been an important gain of EU membership in the past," said Dr. Andrew Lilico, author of the report and Director of Europe Economics.
"But that influence has waned severely since 2008, and as matters stand, with the non-eurozone EU set to shrink to only between two and five members within a decade, and with the very different interests of the eurozone dominating new EU financial regulation, the future appears likely to be one of Britain being systematically over-ruled by the eurozone.
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