David Cameron’s first battle with the EU opens on Thursday. Angela Merkel and
Nicolas Sarkozy hope to introduce a treaty that will deliver tough sanctions on eurozone members that break budget guidelines. Their success rests on David Cameron’s support. Europe is built
on quid pro quos, so Cameron will ensure that the new treaty does not prejudice Britain whilst also seeking to repatriate competences.
He will avoid the more avant garde suggestions of outspoken eurosceptics – he knows that a UK Sovereignty Bill and exemption from pan-European customs arrangements are unfeasible unless Britain rescinds its membership – and, in the delicate context of coalition, seek practical assurances instead. The regulation of financial derivatives should remain in London and not be transferred to Frankfurt (London is Europe’s financial capital), the proposed EU budget increase should be resisted by member states and Brussels’ full-paid maternity 20-week leave should also be scrapped as it is unaffordable.
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