Labour have also raised the prospect of some form of referendum in the future but, like Mr Cameron, the party's leadership oppose a direct vote on whether to stay or exit.

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There is also the prospect of a mild form of stagflation building, or so some economists say.

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First, privatisation in any form feels a fairly remote prospect at the moment, with the future structure of British banking yet to be decided by the Treasury, subject to final recommendations from the Independent Commission on Banking in September.

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