Richard Bridge, I'll try to find a link for you, e.g. to a BBC coverage, but I have no time at the moment. As all of us know, Cameron made a mighty show last year of his anti-European policy, but some journalists commented that this view is not his own, it has rather been imposed on him by backbenchers.

A transaction tax is meant to eliminate the very small and very frequent transactions made by computer programs, which currently have the effect of amplifying any nervousness to a downright panic. I cannot possibly say whether the tax is really a good idea, but all I heard Cameron say against it is that it is not in the British interest.

Whenever I read something about "British interest", or German, or Greek interests etc., I always smell propaganda for the person's own interests. In Cameron's case, his main interest may be to keep the support of the Tory backbenchers, and perhaps to please the tabloid press.