After weeks of crisis and drama in the Eurozone , a pact was agreed in the wee hours of Friday morning. The 17 countries that use the single currency are now committed to enforcing tougher rules on government spending and budgets.
France and Germany wanted all 27 countries in the European Union, including those that don’t use the Euro, to back the proposed financial measures. But one country emphatically disagreed with that plan: the United Kingdom.
Leaving aside whether the new rules will work – the Reuters finance blogger Felix Salmon writing in the Daily Beast and the BBC’s Business Editor Robert Peston are decidedly skeptical – from today the United Kingdom and its Conservative Prime Minister David Cameron are more isolated from the rest of Europe than they have been for some time.
For veteran commentator Michael White writing for the Guardian, there is a certain inevitability to this stand off. “Right from the start,” he writes, “the Conservative party’s relationship with postwar Europe was fraught with the kind of misunderstandings and ambiguities which guaranteed that divorce might always be an option.”
White starts his story with “the party’s greatest hero”: Winston Churchill.