Can you justify that 90% figure? Or is it just plucked out of thin air?
Even if the pound becomes weaker against the Euro in the short term, that could actually be good in some ways. It makes our exports more competitive but, on the other hand, makes imports from the Eurozone dearer. The export growth could push up growth, productivity and wages but the rise in prices of imported goods might hit growth, through lower consumption. Swings and roundabouts. But higher prices can also lead to higher inflation, which is not in itself a bad thing as it reduces the real level of debt and encourages companies to invest.
The truth is that no one really knows, with any degree of certainty, what the economic outcome will be. If economic forecasting was an accurate science, we'd have eliminated the budget deficit by 2015. The fact is that it's still growing. The economic arguments might have some validity if the EU was a prosperous and financially stable group but it clearly isn't. Some countries are struggling with debt, productivity and crippling unemployment. The EU has not helped countries like France & Italy tackle their chronic economic under-performance but has propped them up and protected them to a large degree.
