Balancing act over Europe

Nick Clegg was not the only absentee from David Cameron’s Parliamentary statement on the eurozone’s future. Also missing was any reference of growth apart from the occasional cursory mention, even though it is this priceless commodity which will rebuild the broken economies of Britain and Europe.

Yet it is the Lib Dem leader’s non-appearance alongside the Prime Minister, and David Cameron declining to mention his deputy’s criticisms, that was the biggest talking point. The timing of the speech was known as soon as the date of last week’s EU summit was set. And, while a Lib Dem spokeswoman claimed Mr Clegg had been in London at a National Security Council briefing, the Sheffield Hallam MP later said he did not want to be a distraction at the Dispatch Box.

He was. His no-show only gives ammunition to those who contend that the coalition is irrevocably damaged by Mr Cameron choosing to put the national interest, and adequate safeguards to protect the City of London’s financial services industry, before the pro-European beliefs so cherished by the Lib Dems. Yet being part of a coalition requires compromise on both sides, and that there are many Tory-driven policies, such as a lowering of the 50p tax rate to stimulate business, that have been put on hold to appease Mr Clegg and his colleagues.

That said, Mr Cameron gave a categorical assurance – as noted by Mr Clegg’s predecessor Sir Menzies Campbell – that Britain remains a fully fledged member of the European Union and is committed to making the Single Market work to boost exports, while also looking to broaden its trade links with America and the world’s emerging economies.

Having formed a government in the national interest, it is paramount that Lib Dem stubbornness does not plunge Britain into an unnecessary period of political uncertainty: a premature general election will only hinder efforts to stimulate growth.

That said, Labour’s glee at this split is somewhat misplaced. Ed Miliband failed to spell out how he would have defended British interests in Brussels, and this is not a position of strength given how his two predecessors surrendered powers to the EU.