Besides, UK isn’t dumb, allying themselves with the world’s most powerful (notice I didn’t say greatest) country is a smart move.
Every country make sometime a stupid move; like UK allying themselves to the US. Not because the US are not powerfull, that is not the question, but because English are still european, anyway from a geographic point of view. By following USA like a little dog they will eventually suffert from the Anti-european feeling of the American and the Anti-american feeling of the European (it is not getting better with the International Court, Steel, Agriculture, Kyoto…); that is already the case. Also they do not want to be in the Alliance, London could (should?) be a very important city for busness in the union, but they don’t feel european and prefer to be isolated. Another thing, they may always follow america, their economy is still close to europe, and most of the Import/Export is in continental europe.
UK; Exports - partners: EU 58% (Germany 12%, France 10%, Netherlands 8%), US 15% (1999)
UK; Imports - partners: EU 53% (Germany 14%, France 9%, Netherlands 7%), US 13%, Japan 5% (1999)