Yes just start our own EU...
He was jesting, because the European Economic Area already exists (and Norway and Iceland are members). The problem with the EEA is that at the moment it gets bullied by the EU - of course if big members joined the EEA, the balance of power would then shift.
That is wrong.
EEA is one of the most important part of the EU - free movement of worker, money, commodities and services.
All 28 EU memberstates and additionaly lichtenstein, island and norway are part of it. (Everyone except switzerland)
