Hmm lets see.....

11% of the UK's GDP is directly generated by the Financial services in London.

Europe want to tax those services which will disproportionately harm the UK.

David Cameron wanted to be exempt from some of the charges but the other nations basically would not allow this.

David Cameron correctly used his VETO.

If he's a coward then colour me yellow !!!!!

Its funny that this has happened yet again.

The French and Germans get together on a scheme, and the British will have none of it. Sound familiar? I can remember a few other times it happened in history.

Exactly, but now Britain is no longer anywhere near in the kind of position where they can freely interfere in Continental affairs. Their attempts to replay history will not bode well in this instance

what do you mean? freely interfere or do you mean looking out for our interests like everyone else does in europe

the french aren't scheming or in charge of anything,don't be fooled

do people honestly think the euro is going to hold together when living standards really have to fall,govts have no money and immigration is out of control

good luck with that,i'd rather be making our own decisions when the real shit hits the fan,light on our feet and not tied in to the slowest moving leftists union there is,i hope cameron has got the balls to see it through 

Every European leader is a coward there scared of the USA, China, and Russia. But of course i guess its only natural since those countries are more powerful. But anyway let me comment on the issue, I respect David Cameron he isn't going to let his country fall with the rest of the EU just because they are in this little club. Every country should make safeguards to protect themselves against something disastrous. If Germany, France, Spain, etc.... wan't to collapse together then thats them.

I guess Cameron is just leaving the Titanic before it hits the iceberg.

And Merkozy is like the captain: Everything is under control.

depends on what media you are reading/watching

^^^ i mean't to quote pezus

Lets see how it all ends. I can see the British people really regretting the decision.

At least I hope the Europeans will not have the English cherry picking anymore that they allowed for the last 20 years.

Good riddance to Britain. Lets see who will regret the Cameron decisions more.

I really support what Iceland did. The bankers were the ones that fucked up and the bankers should pay, not the state. When you make investments you know there is a risk of losing your money and accept that risk. They don's mind playing by those rules when they win, but when they lose they need the govermnet to pay for them?

I wish more countries followed Iceland's example.

He stuck up for British Interests. His veto was absolutely correct. The Financial Transaction Tax would harm Britain the most. London accounts for 40% of all foreign currency transactions. A massive number. Let’s compare this to Paris and Berlin. The figures are 3% and 2 % respectively. This Robin Hood Tax when you look at the figures could be seen to be a tax aimed squarely at London. Yes the financial crisis of 2008 may have kick started the global recession but it is not responsible for the Euro crisis. The cause for that crisis is the lack of a common fiscal policy from the start and no real consequences for countries that fiddled their books to enter the Euro (Greece) and no consequences for countries that spent more money than they could ever hope to repay. (Greece again)