• The Education Minister speaking in an interview on BBC TV this morning
  • Defence Sec Phillip Hammond also says he would vote to get out in a referendum

Back-bench MPs are trying to get a motion in parliament to express their concern that there was no mention of a referendum in the Queens Speech last week, which outlines govt policy for the next year. Given recent anti-EU stances by eminent former cabinet ministers too, these additional dissenters are notable.

The Independent carries this story

as does The Telegraph

As I have reported on a few occasions recently this is now the next big elephant in the room, at least as far as the UK is concerned.The EU is taking note and so should the rest of the world, particularly us FX traders.

Admittedly this won’t have immediate impact but it’s a slow burner of uncertainty, and the markets always hate that. I don’t have a definitive answer/strategy right now. There are many pros and cons for the UK of being inside and outside the EU community and with a referendum not due, if at all, until 2017 there is many a flood to try and pass under the bridge in the meantime but ignore this time-bomb at your peril.

As always I would love to hear your comments.