I have been left stunned by David Cameron’s exercise of the EU Veto last week and even more stunned by the reaction of the UK press that it’s a good thing. For me this is a real ‘WTF’ moment.

The British get no concessions and are excluded from further negotiations. Moreover they will almost certainly be punished commercially by other EU members for their intransigence. Worst of all they relegate themselves to irrelevance on the global scene and get the blame if the EU fail to contain the debt crisis. Where’s the win in that?

It’s just incredible that the British (the Germans and French too) can’t see that unless they sort out the debt mess it will tip the entire continent and probably the rest of the world into a deep recession. Print the money, accept the inflation and try to stop it happening again must surely be the priorities? The time is long past for petty parochialism.

This short video is the best explanation I have seen of the crisis!