''If there is one word that defined the EU in 2012, it was “Grexit.” The prospect of Greece crashing out of the Eurozone hovered over Europe like a dark cloud, threatening a thunderstorm but never delivering. With Greece’s continued membership in the euro looking more secure than it has in a while in these early days of 2013, a new word has captured the imagination of Europe-watchers: “Brexit”, or the possibility of a British departure from the European Union.
Prime Minister David Cameron gave a big speech on Britain and Europe in London on Wednesday morning. In it, he expressed his country’s dissatisfaction at the evolution of the European Union, in particular in the age of the euro crisis. Lamenting the slipping competitiveness of European economies and the mounting democratic deficit of the EU, he vowed to renegotiate the United Kingdom’s relationship with Brussels by clawing back as many powers as he could from the control of the EU bureaucracy. He also promised to put the new deal to a referendum at some point during the second term he hopes to win in the 2015 elections. A “no” vote in that referendum would spell a British exit..''
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