The Prime Minister has clearly made the right decision to exercise Britain's veto. We don't know the details yet, but it sounds like Britain was being asked not simply to assent to fiscal union within the eurozone, but to a surrender of sovereignty across a range of areas, including greater regulation of the City. What's extraordinary is that all but four of the 27 EU members signed up to this (and it now looks as though three of those may reconsider). Is David Cameron really the only European leader unwilling to sacrifice national sovereignty to the cause of saving the Euro? What about the Danes? If the treaty goes ahead, I imagine there will be referenda in at least some of the countries that signed it and it will be overwhelmingly rejected. It beggar's belief that in a year when so many people in the Middle East risked their lives in the cause of democracy, the leaders of Europe decided it was less important than saving the Euro. (To read more, click here.)
