Member states must ask themselves if EU is worth the effort

The EU has proved a disappointment to many but the answer is not to simply abandon the project but reform it so it works better, writes Jean Pisani-Ferry

When Britain joined the then-European Economic Community in 1973, it was at the rearguard of European integration. The question raised by the UK’s upcoming referendum on continued EU membership is whether Britain is now at the forefront of Europe’s disintegration.

The issue has little to do with the insignificant accord that British prime minister David Cameron recently reached with his EU colleagues. Indeed, it is hard to believe that this agreement will determine Britain’s fateful choice in June. The fundamental issue is whether EU membership still yields large enough benefits to outweigh the loss of sovereignty that it entails.