A US president taking a unilateral decision that affects European interests. European policymakers outraged at US interference in their affairs. European businesses fearing losing access to some international markets. Sound familiar? This is the story of a crisis that took place in 1982 regarding the Siberian gas pipeline project; its outcome should inspire optimism in the Europeans’ capacity to counteract Donald Trump’s decision to withdraw the US from the Iranian nuclear deal.
The UK enjoys opt-outs from many EU policies, without its influence in the EU being diminished. But the UK’s privileged position in the EU has been neglected in the referendum debate, which has been caught up in statistics about the material costs and benefits of the EU.
I’m publishing today a new Policy Contribution for Bruegel, on the forthcoming vote about the UK’s EU membership.