So Cameron played his trump card but did he win or lose? It is impossible for us to know what the outcome will be or what the outcome would have been had he agreed with the others. It does seem as though he was under great pressure from his friends (and financial supporters of his Party) in the City, and his euro-sceptic MPs, to act as he did. Did this pressure influence his decision? Seems likely! My concern is that the long term consequence may be that we will become a small, relatively poor, inconsequential island off the coast of a large, strong and prosperous Europe. The Europeans want stricter regulation of the financial sector, so do we don’t we? All we hear from the government is talk but, four years after the collapse of the banking sector, there is still little sign of action.