Brexit: Made in UK, designed in Brussels

If the British vote for Brexit, the European Union will be reaping what it has sown.

In 1992, Denmark voted against the Maastricht Treaty, which established the possibility of creating a common European currency. In France's referendum on the same issue, only 51.1 percent voted in favour.

What if Europe’s leaders had listened to the doubts of their citizens and ditched the Maastricht Treaty?

The euro enabled countries to borrow more cheaply than they ever could have done wi...