We say an emphatic "no" to a new European Fiscal Union treaty. If the others want to go ahead with one, we wish them well - but they'll have to do it separately from the European Union.
But then we agree to remain part of the on-going negotiations. "Our Foreign Office people think we ought to remain in the room, Minister".
Then it slips out that the other 26 can broker their new deal within the structures and arrangements of the EU. Far from being separate from the EU, the new Fiscal Union takes shape within it.
The institutions of the EU - including the federalist courts - will become those of the FU.
If that turns out to be the case - and right now it is a big if, with contradictory statements from ministers - in what sense have we vetoed anything?
"A revolutionary text ... right up there with the Communist manifesto" - Dominic Lawson, Sunday Times
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