2016 will be, in Europe, a critical year but not for the reasons we think. A Brexit is unlikely. To gamble with the idea in a poll or at the Commons, in order to show his dissatisfaction is one thing, to risk to destabilize the economy of his country is a different thing. The City relies on the implantation of international banks and a lot of non European enterprises have chosen England as an entry point to Europe. Its deficit financing depends on foreign investors. Electors begin to be aware of these realities. Prime Minister Cameron knows it. But, in ...