Obama's intervention will make swing voters think. It's a decisive entry, no matter what the already-decided Brexiters say. Obama has demolished their shaky economic proposals, proposals that lie at the heart of their agenda.
I'm voting to remain. My decision is as much strategic as it is economic.
The EU is far from perfect as an institution. It has a democratic deficit that needs addressing, quite apart from the Eurozone crises and the refugee crisis.
However it is the world's largest single market - all of 500 million people, most in highly developed countries. Having a common system of rules and regulations for goods, services etc. in addition to a free trade area has proved indispensable for the growth of our economy. It makes business easier, much easier.We have 500 million consumers looking for quality goods; We are the world's largest single market. We have free movement for workers between Member States.
Just consider the perilous state of the UK economy before it joined the EEC in the 1970s, compared with today. When Britain joined the European Communities in 1973 it was the sick man of Europe. GDP in France, West Germany and Italy - the three largest economies to take part in founding the EU back in 1957 - had risen by 95% compared with only 50% in non-EU Britain. That's why we wanted to join.
Today Britain is more prosperous than Italy and France. By 2030, the UK is forecasted to have the largest economy in the EU and the largest population in the EU by 2040. We will be a more formidable member state than Germany, the "first among equals" in the EU. We will be able to mould Europe in our image and through the EU play an outsized role in world affairs relative to our size. The EU will be better for our leadership and direction.
France is a great military power but economically weakened. Germany is an industrial behemoth but lacks basic military capabilities. The UK alone remains both a military and economic power on the continent - our future is to lead the continent as its premier member state.
The truly patriotic decision on June 23 is to embrace this future - a future in which Britain is the pre-eminent member state of the EU and through her can have an influence in world affairs we have not had since the heyday of empire and could never dream of having again on our own, as an island of 65 million people.
If Britain had not joined the common market in 1973, economists estimate that we would have fallen well behind continental Europe and the U.S. The difference in our prospects today is staggering by comparison.
