... Angela Merkel, the central driver of the new regime, appeared sanguine and unbothered by the British veto.

"The breakthrough to a stability union, a fiscal union has been achieved," she said. "Only one country, Great Britain, distanced itself." She added: "I really don't believe David Cameron was ever with us at the table. We're very pleased with the result. (The deal) was no weak compromise for the euro."

But Cameron was scornful of what the summit accomplished. "I don't actually think the world is waiting with bated breath about what was the exact nature of the institutional relationship. I don't believe they're sitting in the trading rooms wondering whether there's going to be a new reverse QMV (qualified majority voting) article on integrated budget setting of blah, blah, blah."

/... http://www.guardian.co.uk/world/2011/dec/0...