Europe's biggest test

THE most critical stress test still lies ahead for the European Union (EU) and the project of European integration. This claim may seem overblown in the light of the refugee crisis and still risk-laden Greek turbulence - as if it were not enough that both the euro and the Schengen Area are proving (to the detriment of all, inside and out) to work only reasonably well in good times. In bad times they are clearly not sufficiently robust. Yet, I am convinced that the forthcoming British referendum on EU membership, set to take place within the next two years, is of far greater importance for the EU.

I am talking not so much about the political repercussions of the Yes/No vote on the internal integrity of Britain itself and the division of powers and manner of government there, however great these may be. I refer, rather, to the consequences for continental Europe, which many are studiously ignoring.

From my experience of numerous debates in Europe, I am well aware of Britain's importance in taking positions often in sensible counterbalance to others'. I sense instinctively that there is no substitute of comparable strength. In the long run, Britain's EU membership makes the European integration project more balanced and meaningful for us all.