Italy could back Britain over two-speed Europe

Charles Grant, director of the pro-European Centre for European Reform, said Italian backing for the British vision of Europe as an explicitly multi-currency union, would be both practically and politically useful to Downing Street.

“A British-Italian initiative to clarify the distinction between eurozone countries and the others could be significant,” he said, “because diplomatically, it shows one of the founding six is willing to work with the British on EU reform.

“Politically, it also helps Cameron to reassure voters that Britain can avoid being sucked into whirlpool of integration.”