Who wins from David Cameron's veto - Britain or the EU?

Director of foreign policy and defence at the CER Tomas Valasek points out that "Britain has become toxic by association" in Europe, meaning that "ideas which it sponsors will be resisted on principle, not on merit ... The UK veto played into Sarkozy's hands and cemented the dominant role of Germany and France in the new fiscal union, to the alarm of the central Europeans. Britain's actions have also shifted power in the EU from small to big states. The inner core will continue to shrink. France and Germany may try to expand the remit of the core group beyond issues such as national budgets and deficits to include taxes or labour standards."