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Eurozone crisis: PM 'may refuse to sign EU treaty' Eurozone crisis: PM 'may refuse to sign EU treaty'
(about 6 hours later)
David Cameron has said he will not sign any reworked EU treaty designed to solve the eurozone crisis if it does not contain safeguards to protect British interests.David Cameron has said he will not sign any reworked EU treaty designed to solve the eurozone crisis if it does not contain safeguards to protect British interests.
The prime minister said there must be protection for the single market and the UK financial services sector.The prime minister said there must be protection for the single market and the UK financial services sector.
The EU treaty may be rewritten to achieve greater fiscal integration within the eurozone.The EU treaty may be rewritten to achieve greater fiscal integration within the eurozone.
But that would require the agreement of all 27 members, including the UK.But that would require the agreement of all 27 members, including the UK.
Meanwhile, Deputy Prime Minister Nick Clegg has told BBC Radio 5live the "hand on the clock is moving to the 59th minute" in the eurozone crisis.Meanwhile, Deputy Prime Minister Nick Clegg has told BBC Radio 5live the "hand on the clock is moving to the 59th minute" in the eurozone crisis.
British interestsBritish interests
Germany and France are developing a plan for greater fiscal integration among the eurozone's 17 members ahead of a crucial meeting on Friday.Germany and France are developing a plan for greater fiscal integration among the eurozone's 17 members ahead of a crucial meeting on Friday.
Mr Cameron said he would be there "to defend and promote British interests", but stressed that the most important thing for Britain right now was to resolve the eurozone crisis.Mr Cameron said he would be there "to defend and promote British interests", but stressed that the most important thing for Britain right now was to resolve the eurozone crisis.
"If they choose to use the European treaty to do that then obviously there will be British safeguards and British interests that I will want to insist on, and I won't sign a treaty that doesn't have those safeguards in it.""If they choose to use the European treaty to do that then obviously there will be British safeguards and British interests that I will want to insist on, and I won't sign a treaty that doesn't have those safeguards in it."
He added: "As long as we get those then that treaty will go ahead. If we can't get those, it won't."He added: "As long as we get those then that treaty will go ahead. If we can't get those, it won't."
Mr Cameron said that if the eurozone chose not to change the treaty but did want to use European institutions, such as the Central Bank or Court of Justice, to implement its plans, then he would also insist on certain safeguards for the UK. Later, href="http://www.thetimes.co.uk/tto/news/" >in article for the Times, Mr Cameron wrote that the 17 Eurozone countries could decide to reach agreement on their own, but "Our colleagues in the EU need to know that we will not agree to a treaty change that fails to protect our interests."
Some observers have argued that a treaty of 17 states "would be more effective if it had access to the institutions of the EU such as the European Court of Justice and the Commission," the article says.
"These institutions belong to all EU states and their use outside the treaty would clearly require safeguards."
"Our asks will be practical and focused. But Eurozone countries should not mistake this for any lack of steel."
Downing Street has said that none of the proposed changes being discussed would trigger a referendum in the UK as they would not constitute a significant transfer of power from Westminster to Brussels.Downing Street has said that none of the proposed changes being discussed would trigger a referendum in the UK as they would not constitute a significant transfer of power from Westminster to Brussels.
The measures under consideration were about how the eurozone countries organised and governed themselves, it has claimed.The measures under consideration were about how the eurozone countries organised and governed themselves, it has claimed.
But many MPs say an agreement involving just the 17 members of the eurozone would alter relations with the EU as a whole and a referendum was needed.But many MPs say an agreement involving just the 17 members of the eurozone would alter relations with the EU as a whole and a referendum was needed.
Mr Clegg said the collapse of the euro would be "a complete cataclysm" for the whole of Europe.Mr Clegg said the collapse of the euro would be "a complete cataclysm" for the whole of Europe.
"There is real urgency to it... we need a clear roadmap towards new rules in the eurozone, to make sure the currency is buttressed by great fiscal intervention," he said."There is real urgency to it... we need a clear roadmap towards new rules in the eurozone, to make sure the currency is buttressed by great fiscal intervention," he said.
"That might need some kind of treaty revision here or there... that will take several months to thrash out. But what everyone is looking for is a basic roadmap for the future of the eurozone at the summit at the end of the week.""That might need some kind of treaty revision here or there... that will take several months to thrash out. But what everyone is looking for is a basic roadmap for the future of the eurozone at the summit at the end of the week."
'Time of crisis' The last Labour Foreign Secretary, David Miliband, has said tough talk by the prime minister could lead to less influence.
Earlier, Business Secretary Vince Cable said he was "pretty confident" the eurozone could resolve its immediate problems, but warned the UK cannot be "marginalised" if the EU reshapes itself. "David Cameron faces a real trap from those in his own party who are spoiling for a fight that would bring Britain out of the European Union," he said.
He said critics of the eurozone and, Germany in particular, were displaying schadenfraude and they "consistently underestimated the willingness and capacity of the European countries to get their act together at a time of crisis". "The trap is that in the end the other countries will go ahead on their own and not just decide economic policy for the Eurozone, they'll end up designing policy for the whole of the Euorpean Union.
"I am rather more optimistic about the eurozone than a lot of people in the UK," he said. "And that will put Britain in the second division, a place that it's tried to avoid for the last 40 years."
"The Germans appear to have accepted there is a commitment to real fiscal discipline in the rest of the eurozone... on the basis of that, I am pretty confident they will move forward to accept there needs to be much more liquidity and back-up from the European Central Bank."
Mr Cable said he was not worried if closer co-operation between eurozone members resulted in a "two-speed Europe" as long as the UK fought its corner over issues of vital national interest such as free trade and the single market.
"It would harm Britain's interests if we were marginalised from decision making about the single market of which were are part. We have to make sure we are not."
The business secretary, one of the most prominent Lib Dems in the Cabinet, played down suggestions that the issue of a referendum would destabilise the coalition.
'Too much Europe''Too much Europe'
Work and Pensions Secretary Iain Duncan Smith told Sky News on Sunday that a public vote was needed in the event of a major treaty change but Mr Cable said he had not heard him say that in cabinet.
And he added: "Under current circumstances we see no justification for having a referendum."
The prime minister says he will seek to return powers to the UK at the right time but many Conservative MPs want him to go further.The prime minister says he will seek to return powers to the UK at the right time but many Conservative MPs want him to go further.
Last month, more than 80 Tory MPs defied the government and called for a referendum on the UK's membership of the EU.Last month, more than 80 Tory MPs defied the government and called for a referendum on the UK's membership of the EU.
Conservative MP Douglas Carswell, who wants the UK to leave the EU, said EU leaders appeared as if they were trying to solve a problem created "by too much Europe by giving us even more Europe".Conservative MP Douglas Carswell, who wants the UK to leave the EU, said EU leaders appeared as if they were trying to solve a problem created "by too much Europe by giving us even more Europe".
"Unfortunately, for the political elite the people are not just going to go away," he told the BBC News Channel."Unfortunately, for the political elite the people are not just going to go away," he told the BBC News Channel.
"We were promised by all three party leaders in the last Parliament that we would have a referendum. Now it does not suit them to do this they have dismissed this as something they can afford to ignore. We need a say over whether the new deal which will emerge from these negotiations is in our national interest or not.""We were promised by all three party leaders in the last Parliament that we would have a referendum. Now it does not suit them to do this they have dismissed this as something they can afford to ignore. We need a say over whether the new deal which will emerge from these negotiations is in our national interest or not."