Europe has as much to lose from Brexit as the UK. David Cameron looks set to secure limited concessions from the European Union (EU), Reuters reported on February 2. The European Union has grounds to offer thin gruel - it knows Brexit would hit member states' budget and trade unevenly.

But given what it might unleash politically, a subpar deal is risky for Brussels as well as for Britain. Cameron's proposed deal sounds like a classic European fudge. The idea is for a reformed European Union to feature a break for national parliaments.

This article is no longer available in our repository.

There could be multiple reasons for this.