Conservative eurosceptic MP Bernard Jenkin gives his take on the changed state of play over Europe after last week's British veto, on the Today programme:

"I don't think he left himself any option. He was asking for some very reasonable safeguards for the financial services sector, which employs two million people.

"The fact they couldn't even recognise the importance of that shows just how far apart they were.

"This room we're going to be excluded from is called monetary union and fiscal union – we were never going to be in that room anyway.

"I suspect this decision reflects the relationships that already exist. There's this irrational anger the French have about the City of London.

"The treaties are attacking our competitiveness and our prosperity. It is the existing treaties that are doing this. As they forge ahead with political and monetary union, there has to be a recognise the UK is going to have a different relationship with the European Union than the rest of our European partners."