The UK's referendum on whether to leave the EU takes place Thursday. Prime Minister David Cameron promised in 2013 to settle the "European question" forever with a referendum if he was re-elected. While Europe and the whole world closely watch which way the UK votes, it is Cameron and his political confidants that are concerned most about the UK splitting from the EU. If the vote comes down on the "Leave" side, Cameron and his Conservative Party have to undertake historical responsibilities.

Today's UK seems to have become the largest source of uncertainties in Europe. With the Scottish independence referendum in 2014 and this year's European Union one, the UK looks like it has been led astray, and this concerns Europe and the world.

Mainstream analysis holds that UK people will more likely choose to stay in the EU, while uncertainties linger and will expand.

Staying in the EU has clear and critical interests for the UK, such as market guarantees and stable employment. Leaving will politically cost the UK chances to exert its influence.

Some say the UK will benefit from Brexitby getting rid of obligations as an EU member. The EU is no longer able to push the UK to join its Schengen accord, to adopt the euro or to receive refugees. Upon leaving the EU, the UK can save an annual payment of 8 billion pounds ($11.8 billion).

Nevertheless, if the UK votes to leave, it will become an Atlantic orphan and lose its special relationship with the EU. In this circumstance, its special relationship with the US will become more notable, but it may mean less to the US.

The UK will see its strategic initiative in dealing with the EU and US reduced. A Brexit, once considered by many as impossible, is now too close to call.

First of all, the UK and Europe have fallen into unprecedented confusion. British society is using this dramatic change to address the ills they perceive are facing their nation.

The somewhat strategically extreme plan of having a referendum was used as leverage in partisan politics, but now it seems possible that it will decide the future direction of the entire country.

The recent murder of pro-EU British MP Jo Cox led to a swing toward the pro-Remain camp. That such a major choice is so easily affected reveals a flaw in the system.

While the Scottish referendum and the ongoing EU poll have consumed much political and societal attention, the UK has largely maintained stability, which needs high social governance capabilities. While the UK is playing a risky game, it shouldn't be imitated.

If the UK votes to stay in the EU, the country will have just been through a political masquerade. If not, then the country will have acted like a show-off tightrope walker who unfortunately fell with no safety belt fastened.