Cameron’s Europlan comes together

The Tory party may not like it, but David Cameron is now finally following a sensible EU policy. As today’s summit in Brussels starts, the Prime Minister appears to have decided what really matters to the UK, and realised that he needs to play nice with the Germans and French.

At the top of the PM’s priority list — a priority voiced by Michael Howard on the Today Programme earlier — is avoiding the collapse of the euro. The consequences of a collapse on Britain’s economy are incalculable, but everyone knows they would be profound.

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Second comes the protection of the City. A Euroland tax on financial transactions would damage the City and thus Britain (as well as the EU) — avoiding it is key.

Third is keeping the 17 from deciding over matters that are the jurisdiction of the 27.