David Cameron Goes it Alone

This looks like the first step towards ‘world government’ and thank goodness the British have enough common sense to stay out of it. Why would you sign a treaty that not only gives Brussels ultimate authority over the way your country raises taxes, spends its money, but you also agree to give them the power to severely punish you if your deficit exceeds 3 per cent of GDP.

David Cameron asked for an exemption from a new European banking tax which he says would penalize financial institutions. One square mile in London is home to 75 per cent of Europe’s financial services and when it became obvious that he wasn't going to get what he wanted he said. “Where we can’t be given safeguards, it is better to be on the outside."

German Chancellor Angela Merkel said that Cameron had negotiated in bad faith. “I really don’t believe he was ever with us at the table” she said and they couldn’t accept any “dodgy compromises where the euro is concerned.” The general feeling amongst the EU nations is that Britain has shut itself out and now faces certain isolation but Mr Cameron says his country's interests in the EU are still protected under the existing treaty.

Sarkozy is furious with David Cameron and refused to shake his hand. He said "In order to accept treaty revision among the 27 EU states, David Cameron asked us - something we all judged unacceptable - for a protocol to be inserted into the treaty granting the United Kingdom a certain number of exemptions on financial services regulations," he said. "We could not accept this, since we consider, quite on the contrary, that a part of the world's woes stem from the deregulation of the financial sector."

David Cameron said "So we will not be presenting this new treaty, when it's agreed, to our parliament. It will not involve Britain.” Well done Cameron