[TheNegotiator]

Today, PM David Cameron faces MP questioning over his veto on new financial changes to the EU Treaty. Mr Cameron said no because there were no safeguards for Britain's financial services industry(lol, you gotta love the irony!) which accounts for a big chunk of British GDP. London in particular is currently a global financial hub and a severe clampdown on the industry would be a big problem for Britain - especially if it was Europe and not the British government who are in charge of implementing the changes. Merkel wants to protect the German economy and constitution from having to up front more money for inevitable future bailouts(and possibly current ones) and Sarkozy I suspect more than anything would love to see the UK on a Euro leash so to speak. But political wranglings aside, is it good for Britain to be in or out of Europe? There is no current Monetary integration and voters have already been promised a referendum on EU membership. I suspect that being totally out might see the pound strengthen but I don't know. Britain contributes large sums of cash to support European Union. But is there a strength in numbers aspect to this? Well my idea is yes, but not when the numbers are made up of all sorts of different countries and economies with very different agendas.

What do you think?

[SIUYA]

I kind of viewed it this way.....
he is taking a massive punt on the Europeans not begin able to fix the problems. If they dont which he must suspect they wont and hence does not want to get dragged down, then he has sidestepped a problem for the future....smart move.

Either that or it was just a massive blunder on his behalf and he became stroppy over something small walked out and like most politicians will not admit they f...d up and ask for a seat back at the table due to the apparent loss of face.

Either way its very hard to have influence at the table if you are not there.

[TheNegotiator]

Britain is still part of EU. Nothing has changed as such from what I can see. Unless of course they break the treaty without full member consent that should remain the same. It's just the current adjustments he has vetoed.

[Tams]

we have a globally integrated economy...
it is like a rubik's cube... you move one side, all the color relationships change.
no country can stand on its own;
even China, which had a long history of closed border,
will not be able to sustain its economy if Europe or USA goes bust.

[TheNegotiator]

Very true Tams. But the levels of integration vary immensely and often based on short term political gain rather than sound structural ideas(imo).

[RealDemo]

He says that the treaty wasn't in the best interests of Britain so he didn't sign. I'd really like to know what he thinks those "best interests" are?

Is it in Britains best interest to be left out of the economic decision making process of our closest neighbour?

.....I don't think you wanted to do that Dave did you.

[Marsupilami]

To my understanding, the treaty with its stronger regulations of the financial markets would have hurt London as a financial hub, and where would Britain's economy be without its banks in London ?

[mitsubishi]

Originally Posted by RealDemo »

He says that the treaty wasn't in the best interests of Britain so he didn't sign. I'd really like to know what he thinks those "best interests" are?

Is it in Britains best interest to be left out of the economic decision making process of our closest neighbour?

.....I don't think you wanted to do that Dave did you.

Well he told us pretty much that was exactly what he was going to do.

Ever tried negotiating with these people? ''There is no plan B''
Ever voted NO in a referundum? They just ignore you.
All you ever hear is that we live in a global economy-but somehow it will be a disaster if we dont belong to the failed experiment/closed shop that is the eurozone.

Just bear in mind that there is no credible plan to save the euro just more demands for more power over member states.No credible plan for the PIGS to repay their debts and earn a living.And yet there is no shortage of piss poor countries willing to sign up for club misery-Croata being the latest.It's only a matter of time before the euro crashes.
Isolated? no,we probably escaped complete disaster by the skin of our teeth.
As the worlds second largest financial centre and one of the largest economies in the world ,we'll take our chances without any further interference from these unelected,unaccountable bureacrats thanks very much.

Ask the UK farming / fishing /mining industries what the eurozone ever did for them

Never thought i'd back Cameron on anything but it was a great day in history for Britain
Looking forward to telling Europe to get off our backs on a regular basis