The outcome of the EU budget summit last week was not as bad as it could have been. Cameron did not wield his veto, as he was threatening to just a few days before. And while EU Leaders did not reach a final agreement, progress was made towards reaching a compromise at the next Council meeting in early 2013. Crucially, the UK was able to drum up support for a real-terms freeze amongst like-minded member states such as Germany, the Netherlands and Sweden. This is in stark contrast to our self-imposed isolation following Cameron’s blocking of EU-wide treaty change last December.
However, Cameron’s focus on preventing a rise in spending is side-lining the wider issue of EU budget reform. Continue reading