Britain has become sub-marginal following the EU Summit of 9 December, which reshaped the geo-economic direction of the European continent with the acceleration of fiscal union, a process that will include reinforced regulation and supervision at a European level.

The attempts by UK Prime Minister David Cameron and the City of London to block financial supervision and the strengthening of the Eurozone have failed dramatically and have left the United Kingdom isolated and trailing behind developments. The new situation brings to a close the 30 years of undisputed British domination of Europe's finances, which intensified in the past decade and blocked the European Union from advancing towards a European system for banking supervision, which if it had been introduced a decade ago would have largely prevented the present Eurozone crisis.