The UK's deficit is one of the worst in the EU; as bad as Greece's. The new treaty that David Cameron vetoed yesterday is designed to get countries on track on their spending. It was aimed at only the Eurozone but even the other 9 countries want in on it. In addition, in times of crisis when more money is needed and spending will be limited by the treaty the EU will provide help through the central bailout system. With the UK not being part of this system that means that the UK can spend as much as it wants and dig its hole deeper and if it is in trouble it won't get any money from the EU. With the UK's current economic situation it needs assistance to balance its finances and get itself back on track. This treaty wouldn't have cost the UK any money since it’s not part of the Eurozone. Simply, Cameron is worried that the current anti-Euro sentiment in the UK will split his party. People in the UK use the EU as a scapegoat because they don’t want to fess up to the problems that they face. The UK barely spends any money on the EU and receives enormous benefits.
