Those of us intrigued by the possibility of a Brexit might draw encouragement from the prediction by Moody’s, a credit ratings agency, that an exit from the European Union would result in a ratings downgrade for Britain.

This is the same agency which belatedly – in 2015 – admitted that it made catastrophic errors in calculating the ratings of hundreds of sub-prime mortgage bonds that were issued in the years leading up to the financial crisis of 2008.