Nomura report: UK could leave EU by autumn

The UK could leave the European Union by this autumn should the eurozone debt crisis intensify further, it has been suggested in a study by Japanese bank Nomura.

Alastair Newton, a former adviser to ex-PM to Tony Blair, authored the 11-page study in which he said the EU may be forced to take drastic steps towards fiscal union to save the euro, making it impossible for a sovereign state like the UK to remain. A referendum will called in the UK, leading to a 'Brixit' before the end of the year. An extract from the report, printed in The Telegraph, said: "A deepening of the eurozone crisis in the immediate future remains a real possibility despite the recent efforts of the ECB in particular to calm markets. This, in turn, could spur acceleration in ...