I do not share the view that the overnight news that the Prime Minister’s refusal to join in a new European Union treaty will somehow leave us isolated and sidelined in Europe.

The fact is that next week Germany will still want to sell us their cars and France sell us their wine. More importantly our European neighbours will still want to buy British goods and services.

I think the Prime Minister was absolutely right to defend British interests and I think the majority of British people will support his view. The claim that there this has suddenly created a two tier Europe ignores that fact that ever since the single European currency came into being there has been two groups of countries in the European union those inside the Eurozone and those outside the Eurozone. All that has happened is that this division has been highlighted and reinforced.

I have long believed that the single currency as it is presently constituted is doomed. This country greatly benefits from being outside the Eurozone. Nothing I have seen about what was agreed at this summit has led me to change my view about this.