In the light of the European Council which the Prime Minister will attend today, the European Foundation has today issued a 72-point report on the clear and present dangers posed by the post-veto EU summit.

There are serious obstacles that need to be addressed in relation to the crisis in the Eurozone, the proposed draft treaty and the impending economic, political and constitutional dangers it poses to the United Kingdom.

Crucially, France and Germany refuse to accept the failure of the Eurozone. It is time for David Cameron to redefine the terms of our relationship with the Eurozone and the wider EU. The draft treaty under consideration rewards the something for nothing culture.

The draft treaty will simply lead to even more rules for Eurozone countries which then go on to break those rules and seek even more money from EU, ECB and IMF bailout funds. The situation is no longer affordable.

As for the draft treaty, it is vital that the EU institutions are not used along with their buildings and staff, as the UK has explicitly vetoed these arrangements. They have no right to develop a role in any agreement outside the EU treaties, as this treaty attempts to do.

There is no legal basis to formally institutionalise the Euro summits, so where would the money to be allocated to eurozone summits come from?

It is not legal for the European Commission or the ECJ to attempt to enforce the draft Treaty on stability, coordination and governance in the Economic and Monetary Union, because it is simply not within their mandate.

It is not legal that a group of Member States without unanimous approval of the other member states to confer any new powers to the EU institutions outside the EU legal framework.

In light of the Prime Minister’s veto, David Cameron must now insist on a referendum. Several countries, including Denmark, Ireland, Czech Republic, Romania and Finland have indicated that, under certain circumstances, they may have to hold referendums either to change their constitutions or to simply accept what is on the table.

Please click here to read The European Foundation’s Report: No backsliding at EU summit

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