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Coward? Nah.

He's doing what politicians do best. Using his leverage to get changes to benefit the UK.

An great EU disaster can't be avoided without treaty changes and eventually a "balanced budget" amendment for each EU member state.

Treaty changes require EVERY states approval, and the UK is one such state... and also NOT a part of the Euro. So while hurt, they'd be hurt less then nearly every other state in Europe. Possibly even less then Germany.

So, he's using brinksmanship tactics to likely get whatever he wants. Whether it be integration protection (which seems unlikely) or just some other laws that will benefit Brits.

He's in the drivers seat and he's making the best of it.

Some might charge him with recklessness, but cowardliness?