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| Version 6 | Version 7 |
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| David Cameron vetoes EU-wide treaty change | David Cameron vetoes EU-wide treaty change |
| (40 minutes later) | |
| David Cameron has vetoed EU-wide treaty changes to tackle the eurozone crisis, saying they were not in the UK's interests. | |
| A new "accord" setting out tougher budget rules will now be drawn up by eurozone countries. As well as the UK, Hungary looks set to stay outside it. | A new "accord" setting out tougher budget rules will now be drawn up by eurozone countries. As well as the UK, Hungary looks set to stay outside it. |
| Sweden and the Czech Republic will consult on the deal. | Sweden and the Czech Republic will consult on the deal. |
| UK Foreign Secretary William Hague said the move was "very sensible" and would not leave the UK isolated. | UK Foreign Secretary William Hague said the move was "very sensible" and would not leave the UK isolated. |
| He said signing up would have meant a loss of national sovereignty. | He said signing up would have meant a loss of national sovereignty. |
| 'Unacceptable' | 'Unacceptable' |
| Nearly 10 hours of overnight talks could not produce an agreement involving all member states. A full accord "wasn't possible, given the position of our British friends", French President Nicolas Sarkozy said, in the early hours of Friday morning. | Nearly 10 hours of overnight talks could not produce an agreement involving all member states. A full accord "wasn't possible, given the position of our British friends", French President Nicolas Sarkozy said, in the early hours of Friday morning. |
| Mr Sarkozy said Mr Cameron had made "unacceptable" demands for exemptions for the UK over financial services. | Mr Sarkozy said Mr Cameron had made "unacceptable" demands for exemptions for the UK over financial services. |
“Start Quote | “Start Quote |
| For years the British veto has existed as a threat never used. Not any more” | For years the British veto has existed as a threat never used. Not any more” |
| End Quote | End Quote |
| The BBC's political editor Nick Robinson said the consequences "could scarcely be greater for Europe and for Britain's relationship with Europe". | The BBC's political editor Nick Robinson said the consequences "could scarcely be greater for Europe and for Britain's relationship with Europe". |
| He said there was no denying now that a two-speed Europe - those inside the new deal and those outside - was inevitable, but the practical implications of that would take time to become clear. | He said there was no denying now that a two-speed Europe - those inside the new deal and those outside - was inevitable, but the practical implications of that would take time to become clear. |
| He predicted a series of rows and legal challenges about what the new euro "club within a club" could discuss, and whether it should be allowed to use EU resources and officials. | He predicted a series of rows and legal challenges about what the new euro "club within a club" could discuss, and whether it should be allowed to use EU resources and officials. |
| Key interests | Key interests |
| Mr Cameron told a news conference after the discussion that the deal on the table was not in Britain's interest "so I didn't sign up to it". | Mr Cameron told a news conference after the discussion that the deal on the table was not in Britain's interest "so I didn't sign up to it". |
| "We want the eurozone countries to come together and solve their problems. But we should only allow that to happen within the EU treaties if there are proper protections for the single market, for other key British interests" he said. | "We want the eurozone countries to come together and solve their problems. But we should only allow that to happen within the EU treaties if there are proper protections for the single market, for other key British interests" he said. |
| "Without those safeguards it is better not to have a treaty within a treaty, but have those countries make their arrangements separately. | "Without those safeguards it is better not to have a treaty within a treaty, but have those countries make their arrangements separately. |
| "It was a tough decision but the right one." | "It was a tough decision but the right one." |
| Mr Sarkozy said the eurozone countries would sign an intergovernmental accord aimed at stabilising the currency in the face of the debt crisis, along with any other EU members that wanted to join. | Mr Sarkozy said the eurozone countries would sign an intergovernmental accord aimed at stabilising the currency in the face of the debt crisis, along with any other EU members that wanted to join. |
| He said the sticking point had been Mr Cameron's insistence on a protocol allowing London to opt out of proposed change on financial services. | He said the sticking point had been Mr Cameron's insistence on a protocol allowing London to opt out of proposed change on financial services. |
| 'Not isolated' | 'Not isolated' |
| "We were not able to accept [the British demands] because we consider quite the contrary - that a very large and substantial amount of the problems we are facing around the world are a result of lack of regulation of financial services and therefore can't have a waiver for the United Kingdom," he said. | "We were not able to accept [the British demands] because we consider quite the contrary - that a very large and substantial amount of the problems we are facing around the world are a result of lack of regulation of financial services and therefore can't have a waiver for the United Kingdom," he said. |
| The head of the European Central Bank, Mario Draghi, said the planned accord would lead to much more discipline in economic policy. | The head of the European Central Bank, Mario Draghi, said the planned accord would lead to much more discipline in economic policy. |
| Speaking to BBC Radio 4's Today programme, Mr Hague said the UK had rightly expressed concerns about the implications of the deal and other European countries had made "nothing like enough of an effort to meet those concerns". | Speaking to BBC Radio 4's Today programme, Mr Hague said the UK had rightly expressed concerns about the implications of the deal and other European countries had made "nothing like enough of an effort to meet those concerns". |
| He said he "would not use the word isolated" about the decision Mr Cameron had taken, because the new club was not one the UK would want to be part of. | He said he "would not use the word isolated" about the decision Mr Cameron had taken, because the new club was not one the UK would want to be part of. |
| "What they've committed themselves to here is to giving up more national control over their budgets, and us standing apart from that is not being isolated from them, it is a very sensible thing to stand apart from that," he said. | "What they've committed themselves to here is to giving up more national control over their budgets, and us standing apart from that is not being isolated from them, it is a very sensible thing to stand apart from that," he said. |
| Mr Hague said there were already a number of different groups within the EU who co-operated on different subjects and this would be another case of that. | Mr Hague said there were already a number of different groups within the EU who co-operated on different subjects and this would be another case of that. |
| But he insisted "the decisions of the European Union" would continue to be made in institutions that include all 27 members, and "no treaty made outside of those institutions can undercut or override the treaties of the European Union". | But he insisted "the decisions of the European Union" would continue to be made in institutions that include all 27 members, and "no treaty made outside of those institutions can undercut or override the treaties of the European Union". |
| European Commission President Jose Manuel Barroso said he regretted that unanimity on treaty change had not been possible. But he added that it was the "proper decision to go ahead at least with those ready to commit immediately". | European Commission President Jose Manuel Barroso said he regretted that unanimity on treaty change had not been possible. But he added that it was the "proper decision to go ahead at least with those ready to commit immediately". |
| An earlier 45-minute meeting between David Cameron, the French president and the German chancellor broke up without agreement. | An earlier 45-minute meeting between David Cameron, the French president and the German chancellor broke up without agreement. |