David Cameron is facing a fresh row with France and Germany over plans to more closely integrate the European Union.
A draft treaty circulating in Brussels this weekend states that the 26 EU members states planning to sign a new fiscal treaty should be allowed to set their own policies for Europe’s single market. The proposed treaty also stipulates that the key bodies of the union should be allowed to police tough new deficit rules – directly contradicting the British Prime Minister’s wishes.
Mr Cameron refused to sign the new treaty at a summit in Brussels in December, where he said it would be wrong for the group of 26 to use the European Council, European Court of Justice and other EU institutions to drive through and oversee closer harmonisation of tax and spending policies by governments. It is understood changes were made to the draft treaty over the Christmas period in accordance with French wishes for “deeper integration in the internal market”.
British ministers are particularly concerned that closer integration may lead to new taxes or regulations that undermine Britain’s financial services industry.
Mr.Cameron is following the eurosceptic agenda, only he knows the wisdom of it.