Over the longer term, the institutions and powers of the EU will continue to expand and certain policymaking powers, heretofore vested in the member states, will be delegated or transferred to, or pooled and shared with EU institutions. As a result, the sovereignty of the member states will increasingly be eroded.

There is not, in my view, a single European demos.

What we’re putting forward is the most radical reform of the welfare state… for 60 years. I think it will have a transformative effect in making sure that everyone is better off in work and better off working rather than on benefits.

Since 2004, Britain has been the destination for 1 in 5 of all inward investments into Europe. And being part of the Single Market has been key to that success.

If we left the European Union, it would be a one-way ticket, not a return. So we will have time for a proper, reasoned debate. At the end of that debate you, the British people, will decide.

I believe something very deeply. That Britain's national interest is best served in a flexible, adaptable and open European Union and that such a European Union is best with Britain in it.

The European Union that emerges from the Eurozone crisis is going to be a very different body. It will be transformed perhaps beyond recognition by the measures needed to save the Eurozone.