Given that Germany is teetering on the brink of dangerous deflation, would not forcing the Germans to intensify that deflation by further fiscal tightening drive them into recession, and would not that cause a Crisis in the Euro Zone as a whole?

The Euro Zone Crisis has created an opportunity for a new relationship with our EU partners, in which the UK can take more decisions and Brussels fewer; this would be in line with the basic principle that the authority to pass laws should be democratically accountable to those who are affected by them”.