"'Retreat, retreat, just ten yards at a time' is effectively David Cameron's call. David Cameron's European position started off with a 'Cast-Iron Guarantee' to hold a referendum, then moved to repatriating powers, and now down to some obscure concept of safeguarding the City which is undefined.
"Cameron's empty posturing is getting ridiculous. He is the man who called for EU budget cuts but was happy to settle for an increase.
"By his actions we must judge him. And his actions to date have been to pick up the white flag and wave it furiously.
"His pretence of defending the City of London is pathetic as his party supported EU regulation of the City in European Parliament votes last October.
"Cameron has retreated so far to please his EU partners he is now supporting the federalist dream of fiscal union for the Eurozone to save the euro. This is just empty words from the federalist prime minister."