AOG
Glad to...
I would be extremely worried about what leaving Europe would do to inflation.
Primarily, I would be concerned about the increased prices for goods we import from Europe.
At the moment, trade agreements are in place which have been made as part of a EU collective - and my understanding that many everyday consumer items would be hit by new import taxes, as we would be outside the current EU trade agreements.
Higher prices for food, wine and motor vehicles would result in a rise in inflation.
A rise in inflation would lead to higher wage claims.
Higher wage claims would lead to a drop in the value of the pound (due to an excess of money floating around the system).
A drop in the value of the pound would lead to an increase cost of imported goods which would lead to higher inflation...
It's both a vicious and viscous circle.
Another thing that I think is really important, is that when we trade with the US, China or any of the emerging tiger economies, we are currently doing so as the world's biggest trading block. Also, within Europe, we have immediate access to 500 million customers with little or no barriers to trade. I would hate to see what would happen if we were forced to renegotiate all existing trading protocols with every single country in the EU.
There are other reasons, which I personally feel are a little less 'important'...and that's that I feel 'part of Europe'.
I work in a job which is closely tied with offices in Milan, Paris, Frankfurt and Barcelona and I enjoy the ease with which I can switch from working in one site to another (without visa hassles).