Reading Aaron Ellis’s thoughts on the unexpected “no” from Cameron on Friday – as well as the mournings and musings of various others – has prompted me to pause for thought. HMG has always sought to have British commissioners holding the economic portfolio in Brussels, in order that the economic regulation that emerges has a flavour that is acceptable to the British palate. It is perhaps no coincidence that financial regulation became indigestible once labour abandoned the principle of occupying the economic portfolio at all costs – to get Baroness Ashton into the new foreign policy portfolio – thereby allowing France to install Barnier into our old redoubt. This perhaps explains why Britain is so nervous about the coming tide of financial regulation, when we have not previously been overruled on such matters via QMV, but has Cameron played a blinder or a poor hand badly?
Rather depends on how deluded you are, for there was very little choice available to Cameron.