Britain's go-slow advantage

Athens

ATHENS is a useful vantage point from which to reflect on the surreal nature of European plebiscites. After Britain's 52 per cent to 48 per cent vote against European Union membership on June 23, the lesson of history - especially the bizarre referendum U-turn over Greek austerity a year ago - is that a complete British divorce from Europe in the years ahead is highly unlikely.

Much more probable is a flexible "halfway house" relationship, far from the absolutist or apoca…