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Saturday, July 23, 2011

Cameron rules out vote on creation of EU superstate after £96billion bailout - 22nd July 2011

David Cameron will enrage Eurosceptics by refusing to hold a referendum on dramatic changes to build a European economic superstate.

Proposals to forge closer economic ties between eurozone countries emerged as the £96billion bailout deal was secured for Greece – which will cost British taxpayers £1billion.

Now leaders in the eurozone want to build an EU-Treasury to back up political union and funnel cash to poorer members of the single currency.

French President Nicolas Sarkozy has said he and German Chancellor Angela Merkel will use the crisis to present ‘bold and ambitious plans’ that will ‘make a quantum leap in eurozone government’, by setting up an EU Treasury and a European Monetary Fund.

Senior sources insist that the Prime Minister will use the crisis to renegotiate Britain’s relationship with Brussels.

But in a move likely to infuriate his party, Mr Cameron has already ruled out the prospect of giving the British public a say on the plans for a superstate.

The Prime Minister will argue that a referendum on the proposals is unnecessary because the changes would only affect the countries in the single currency. Read More