Mr. Roland Freudenstein:

This then, paradoxically, might have a centrifugal effect on some smaller member states, for example Hungary and the Czech Republic, and speed up their debates on leaving the European Union. Whether there is any economic rationality to these countries leaving the European Union is a big question. I do not see it happening but there would be an emotional and psychological push.

What would be the effect on social Europe? Even the British Labour Party has been playing a rather cautious role in advocating social Europe. Within the Socialist and Democrats Group in the European Parliament, British Labour has been a free trader as a party. If Britain drops out, then one can imagine the logical consequences.

Would the UK become more Atlanticist in its foreign policy? To put it cynically, it may well try but it takes two to tango. The United States has made it abundantly clear - this goes far beyond the US President, Barack Obama, and the Democrats - that Britain is of value to the United States only if it is a strong part of the European Union, not outside it. There are some fringe elements in the Republican Party that might dream of a renewal of special relationship outside of Britain’s EU membership.

These are nothing more than fringe elements. As someone who works in the think tank that is affiliated to the European People's Party, the centre right group in the European Parliament, I am especially familiar with debates taking place in the Republican Party in the United States. I know for certain that conservative Americans who think in international and transatlantic terms are not interested in a Britain outside the European Union - they want Britain in the European Union - and that is without speaking about the Democrats and President Obama. Some conservative politicians in Britain may not be fully aware of this, but they are missing reality if they do not take it into account. It is a pipedream to believe Britain would be of any value to the United States outside the European Union.