Well Cam, what to do about this little problem?

Parliament is Sovereign, I'm Prime Minister and I rule govern the United Kingdom, I decide how to bankrupt my own country - so goes the message from David Cameron.

According to Bruno Waterfield, Daily Telegraph (who is one journalist worthy of the title, besides Booker), George Osborne is probably going to be summoned, under the draft rules, before the MEPs monetary affairs committee to explain himself in an "economic dialogue".

The article contains the obligatory sound-bite from William Cash who complains that it would be degrading for any British Treasury ministers to be exposed to this demand - no more degrading William, surely, than for a sovereign nation to be overruled on most matters by someone else?

As for the nameless Brussels diplomat to proclaim that it is a red-line and that negotiations will be difficult - no they won't. As with Blair and Brown, where red-lines are concerned, Cameron will just follow suit and capitulate - although in fairness, all things considered, he does have to maintain that yellow streak down his back!