Saturday 16 December 2017

James Warner: This dawn deal and Britain's veto had nothing to do with saving the eurozone

The last time I blogged on treaty change, I wrote that British PM David Cameron's threat to exercise his veto if Britain didn't get what it wanted was just hot air. That's turned out to be very far from the truth. He's actually gone and done it.

My assumption in writing that blog was that Germany and France were perfectly happy to give Cameron the comparatively limited roster of things he was asking for in return for getting the unanimous agreement of the EU 27 to treaty change. Indeed, that is what many British officials believed.

Well, perhaps Germany was, but France certainly wasn't. It's now all too plain what's going on here. It's got nothing to do with saving the euro, though this provides a handy excuse for pushing through federalist fiscal disciplines.

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