The prospect of another EU treaty is a huge problem for reformer Brown

It seems there must be discussion about a potential European Monetary Fund, and an organisation to manage Europe’s economies that circumvents Maastricht, to avert future fiscal crises.

So much for Lisbon, the treaty to end all treaties. Quite why no one, especially the treaty’s opponents, acknowledged the possibility of a member state’s financial collapse whilst Lisbon was being ratified during the recession is a mystery. However, all that is past. The question for the future is will there be a referendum this time round?

Adrian Michaels, rightly, point out that the Tories’ eurowars are likely to be renewed at the most inopportune time for Cameron. But Cameron will offer a referendum; his European policy dictates that he must.

A further treaty is a problem for Brown. The Prime Minister was instrumental in denying the British people their promised vote on Lisbon. His ‘pro-giving the people a vote’ credibility is diaphanous but Brown’s now a believer.