Britain was always a small player in the EU, never fully engaged either politically or economically. Britain being out could actually be better for Italy etc.
Well, if you watch the markets and listened to all the politicians, media types, etc. who were all over Sky and the BBC tonight, Britain is a very big player in the EU. According to them, the Brits served as the liaison for America because Obama was too stupid or lazy to want to deal with Brussels himself. (I put that last bit in about BO.)