UK source to EuroFora +Cameron: Veto on EU Treaty Change for Financial Services/Referendum/Market ?

*Brussels/EU Summit/Angelo Marcopolo/- Speaking to Journalists in a Press Briefing at ..6 o'clock a.m., early Morning, attended by "EuroFora", British Prime Minister David Cameron tried to clarify the reasons for which he not only refused to join the "€uroArea" move, but even Vetoed any EU Treaty Change which  could have provided an apparently obvious Legal basis for that (See also earlier "EuroFora"s NewsReport on the collective Decision to create the €AG) :

Well informed British Diplomatic Sources told "EuroFora" that an attempted "Deal", apparently related to Financial Services, was rejected, while Cameron also stressed UK Government's will to avoid a Referendum in Great Britain, while also "keeping the EU focused on the Single Market"..

The rift however, facilitates €uro-Area's structural changes, obliging them to chose a "Faster" procedure (See infra).
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Earlier, French President Nicolas Sarkozy had already anounced that "we had a profound and difficult Debate on the Legal form which would materialize the adopted Reforms. As you know, we'd prefer an (EU) Treaty Reform with all its 27 (Member Countries). But this wasn't possible, given the stance of our Brittish Friends. So that we'll have, finally, an InterGovernemental Treaty with (the) 17 (€urozone Member Countries), Open to all those who would like to join us : I.e. a Great Number of (Non-€urozone EU Member) Countries declared that they'd like to join us". This could also make things "Faster", Sarkozy observed, since an InterGovernemental Agreement can be concluded much Easier than an EU Treaty Modification. (See other "EuroFora"s NewsReport, herewith).
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- "I came here wanting either of 2 outcomes", revealed Cameron :

- "Either the Safeguards that made a Treaty inside EU Treaty, a New  complexe Legal structure within the EU that makes that Safe,Or, if we couldn't have that, then, allow the others to go their way, with a Treaty of their own, and  make it sure that EU is maintained as a Single Market, and with the Institutions that are involved".

"So, either of there 2 outcomes to me is acceptable. We had to pursue, very dogedly, what is in the National British interests" "A Treaty within a Treaty, without sufficient Safeguards, wasn't right for Britain".

It was "Not easy when you are in a room with many Other People who want to press ahead, who all say "forget about your safeguards, forget about your interests, and all just sign this thing together.

But "It's sometimes the Right thing to say : - "I'am afraid I can't do that, it's not in our National Interest".

+ And, contrary to Sweden, Hungary and others, who at least said that they'll discuss the matter with their National Parliament, the British Prime Minister made it clear that : ", I don' want to put that in front of my Parliament, because I don't think that I can recommend it with a clear conscience. And so, I'm going to say "No", and I'll exercice the "Veto". That is effective right now", he concluded.
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- "Of course there are Risks", he admitted in reply to questions? "But I think that British People should be relaxed"

Because "there is (already), and there has always been a Differend Speeds the EU : I think that there has been always a Europe with Multiple Facets, if you like, many Differend Speeds,

F.ex. "Britain is an absolutely Central Member of NATO, but not of the Shengen movement.  ... We (UK) are at the Heart of NATO, at the heart of (EU's) Single Market, but not in the Single Currency, not in the Shengen, (etc). That, to me, reflects our (UK's) national Interests".
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And "now, these (€uroarea +) Countries will be making their own Rules and a New Treaty"

But, "I've always been very clear : Anything that's Giving more Powers that you have and passing them to another body in Brussels, you shouldn't do that without asking the British People in a Referendum", he reminded

"As I said, one of the consequences of what happened, with the €urozone creating their own New Treaty to put in place these very tough changes in terms of challenging their Sovereignity, that's going to happen Outside the EU, so that means we won't be presenting a Treaty to (the British) Parliament, (because) this is not a Treaty that Britain is decided up to"; so that a Referendum is avoided, Cameron pointed out.
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Financial Services row +
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Moreover, "All existing EU Institutions belong t the EU, to the 27, they are there to do the things that are set out in the (EU) Treaties that we have all signed up to end of he year".

- " And that's an important Protection for Great Britain, and, obviously, in terms of Financial Services, we do have Concerns about what the EU Commission might be doing, particularly Recently, which, we (UK) think that it's not Competitive, its Discriminatory, we think that there are submissions that the Institutions of the Single Market were made in order to protect and underfed against that", Cameron said.
"In terms of (the UK Government's) coalition, the question is  : - "Is it better to have a New Treaty within the (EU) Treaty, a Group of Countries within the 27, using the Institutions of the EU, constructing an illegal Structure, and having the (EU) Institutions serving 2 Masters at he same Time, within the same Structures ?

- "In my view it only worth it, IF you can't get proper Safeguards.(But) we (the UK) couldn'"t get those Safeguards, and, (therefore) it's better to allow these countries to do their thing on their own, but to keep the EU focused on matters of interest to the Single Matrket, on Trade, Investment, and other Rules that flow from that", he concluded.

- " Britain also does have vital interests, because this is about completing the Single Market, in Energy , in Labour and Services , all of which can press forward very much", he explained.

- "They (€uro-Area) have to find their way out of Deficits and existing inside a same Currency with a Country as strong as Germany, and that's where Britain also has imporant efforts to do about Driving the Single Market, completing the Single Market in Energy and Services (i.e. including Financial), as well as Competitive Labour Markets, all of which we can still press forward very much, in the EU : That's the menue of things we've done

- Satisfied, Cameron found that " there is a Good Progress we've been making, and "as I said, I wish collegues Well in the €uroarea, although there were Strong Disagreements in the Discussions we had tonight, they were of Good Nature"

- "People Understanding eachother, National Interests, their positions, etc., and Working relationships will be maintained, we'll work well", he optimistically joined Sarkozy's and Merkel's appraisals.

 -"but, at the end of the Day, my judgement was that this wasn't good enough for Britain, it's better for these Countries to let them have a Treaty for their own", he reiterated.
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Questioned by "EuroFora" on Cameron's earlier anounced plans, in a Wesminster debate, to take something "in exchange" of €uroArea's more towards more Integration, a well informed British Diplomatic source replied :

-  "That's the problem : We (UK) did not take what we wanted .  That's why we said "No"", to the EU Treaty change..
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This fits what Sarkozy had said earlier :

Replying earlier to Questions on what really  happened "with our British friends", French President Sarkzy confirmed "EuroFora"s informations (See our earlier NewsReport from Brussels, already from Thursday Evening) that a main stumbling block were London's demands on "Financial Services".

- "In order to accept an (EU) Treaty change wih all its 27 (Members),,,, "David Cameron asked a Protocol exonerating the UK from certain Regulations  on Financial Services".

- But "we all found that Unacceptable", because "we consider, on the contrary, that a part of World's troubles comes from the lack of regulation on Financial Services, showing the need for a European Regulation", Sarkozy stressed, reminding well known debates and decisions even in the recent 2011 G20 Summit at Cannes (See "EuroFora"s NewsReports from and on Cannes).                

           
At any case, nobody could accuse €uroArea Countries to eventually provoke a "2 Speeds Europe", since it's only UK's "Opt-out" from the "€uro" which allows London's current refusal, while, on the contrary, all other EU Members are obliged to enter, sooner or later, in the €uroArea, and, today, its Members are obviously obliged to take Efficient Measures in order to protect it from the galoping Global Financial and Debt Crisis, as he observed in reply to other questions. As already said, "we'd prefer an EU Treaty change with all 27", but this was was opposed  by the UK (See supra), obliging us to advance ahead with the 17 Euroarea Countries and all others who want : "I.e. a 17+ format".

- "Facing a (Global Financial) Crisis which affects the €uro, we can't stay without reacting.  Those who refused €uro are not the best placed in order to tell us how €urozone Members should advance ahead".

- "We can say that with a very great Friendship for Great Britain, and a honorable will : It's up to eachone to choose his Strategy and to have its consequences", Sarkozy concluded vis a vis his friend Cameron.                                                                                                                                                                                                                                                                                                             
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- "We are all in one Boat, particularly as far as Economy and Trade are concerned", so that "Great Britain relies on a Stable Europe", stressed also, later-on German chancellor Angie Merkel.

 - "UK had also decided, 20 Years ago, not to be part of the Monetary Union, but it played a constructive role", reminded Merkel.
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Meanwhile, in an introductory Statement, Cameron reiterated that, to "those countries that sign this treaty, and the agreements they have made tonight, for coordinating their budgets and making sure there is more surveillance of what they do and the fiscal integration that they need, we Wish Them Wel"

"Because we want the eurozone to sort out its problems, to achieve that stability and growth that all of Europe – Britain included – needs. We wish them well in that regard and the agreements they have made tonight, some of those may indeed help them to do that.  
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But, the UK's Prime Minister reminded also that, << I said before coming to Brussels; if I couldn’t get adequate safeguards for Britain in a new European treaty, then I wouldn’t agree to it."

- "What is on offer isn’t in Britain’s interests, so I didn’t agree to it"

- "Let me explain why this matters.  Of course, we want the eurozone countries to come together and to solve their problems.  But we should only allow that to happen inside the European Union treaties if there are proper protections for the single market and for other key British interests. Without those safeguards, it is better not to have a treaty within a treaty, but to have those countries make their arrangements separately.  That is what is now going to happen"

"Britain’s interests in the European Union – keeping markets open, free trade, selling our goods and (+Financial) Services with rules over which we have a major say – all those things are protected.  They don’t change. But this new round of integration and special powers and surrenders of sovereignty for European countries and others that want to join the euro, they will be carried on outside the European Union treaty"
"When we can’t be given ...safeguards in the treaty, it is better this is done by intergovernmental arrangements, outside the treaty and outside the institutions of the European Union.  That is what will happen, and that is what is in Britain’s national interests.

"But the key question for Britain was: do you allow that to happen within the European Union treaties if you are not happy with the safeguards you are given?  I wasn’t prepared to agree that treaty, to take it to my Parliament in that way, and that is why I rejected signing this treaty today...>>, Cameron concluded.
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 - However, "of course, while there were always Dangers with agreeing a treaty within a treaty, there are also Risks with others going off and forming a separate treaty; and we should acknowledge that", he warned.

=> "So we will insist that the EU institutions – the court, the Commission – that they work for all 27 nations of the European Union. Indeed, those institutions are established by the Treaty, and that Treaty is still protected", as he said.
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    + Meanwhile, questioned on the "role of EU Institutions such as EU Commission, Court of Justice, etc", Sarkozy was crystal clear, but also accurate :  - "EU Council's Legal Service clearly told us that, as long as we don't change the (EU) Institutions' Competences, but simply ask to do more with them vis a vis certain EU Member Countries, there is no problem".

EU Commission and ECJ are mainly due to monitor and Sanction eventual Violations of €uroArea's Rules, (which strengthen in practice, making them more Legally Binding, €uro's own principles, already enshrined in EU Treaty).

+ "Eurofora" noted, however, that, concerning other €AG issues, such as "the Preparation and Implementation" of €uroArea's  "regular" Summits, the Franco-German Letter adds also a proposal for "a reinforced preparatory Structure to prepare and implement the decisions taken by the summit and ensuring the current functioning", (in addition to the "Ministerial €uroGroup", which is also maintained).