What does this division mean for Britain? On the face of it not a lot: anyone of the member governments could veto it. However, many European governments, including our own, seem alarmingly pro the measures. Together with yesterday’s rumblings about a European Monetary Fund, itself reliant upon a further treaty and yet more invasive EU economic management, the steady creep of EU federalism continues.
The prospect of a debate about Britain’s economic relationship with the EU and the eurozone is becoming increasingly imminent. This is an opportunity for Cameron to threaten what Brussels fears most: the trenchantly eurosceptic British people at the ballot box.