At stake in the United Kingdom’s upcoming referendum on whether to remain a member of the European Union is the nature of the EU itself. The UK wants a different kind of Europe than the one that the EU currently represents. Its preference is a Europe that essentially consists solely of a common market. Even though Britain has long been able to opt out of the euro and much else (and thus is not forced in any way to participate in the process of deepening Europe’s political union), this is the ideological essence of the controversy.
http://www.project-syndicate.org/commentary/ever-closer-union-or-common-market-by-joschka-fischer-2016-03
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