Howard Wheeldon reports: “While promising to stand up for British interests Mr. Cameron has implied that Britain would not stand in the way of changes that would affect the Eurozone area. However, as the days and hours have worn on it is clear that Germany is demanding not only changes that will affect and better discipline the Eurozone partner nations but is also attempting to draw all European Union members to agree another new treaty that will provide the EU additional powers. For Britain after Maastrict and Lisbon changing or increasing inbuilt constitutional powers of the European Union must now be unacceptable unless these may first be sanctioned through a plebiscite of voters here at home. Given the current attitude and current anger of the British people toward the EU we may already know what the result of a future plebiscite would be should it include more sovereign power moving away from Westminster.”

Howard Wheeldon is the Senior Strategist at BGC Partners