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David Cameron threatens veto if EU treaty fails to protect City of London

Nicholas Watt and Ian Traynor
London Guardian [1]
December 7, 2011

David Cameron has threatened to wield Britain’s veto to block a revision of the Lisbon treaty if fellow European leaders refuse to protect the position of the City of London at the EU summit in Brussels .

In a marked hardening of his rhetoric, as Eurosceptic Tories called for a recasting of Britain’s relationship with the EU, the prime minister said he would not sign any treaty that failed to provide safeguards for Britain’s financial services.

The prime minister spoke out as Kenneth Clarke, the veteran pro-European justice secretary, told Eurosceptic Tories that they should abandon any hope of repatriating powers to Britain at this week’s EU summit. “No, we’re not going to renegotiate any transfers of powers, in my opinion,” Clarke told the FT.

The intervention by Clarke on the eve of a crucial EU summit, which is designed to stabilise the eurozone, will irritate Eurosceptic Tories who believe that the prime minister is failing to do enough to protect British interests. But the substance of Clarke’s remarks tallied with the prime minister.

Full article here [1]