Fundamental questions are being asked about the future of the Eurozone and therefore the shape of the EU itself. Opportunities to advance our national interest are clearly becoming apparent. We should focus on how to make the most of this, not pursue a parliamentary process for a multiple choice referendum.

Britain could make her own way in the world, outside the EU, if we chose to do so. So could any other Member State. But the question we will have to ask ourselves is this: is that the very best future for our country? We will have to weigh carefully where our true national interest lies.

People are increasingly frustrated that decisions taken further and further away from them mean their living standards are slashed through enforced austerity or their taxes are used to bail out governments on the other side of the continent.

Warm congratulations to my friend Barack Obama. Look forward to continuing to work together.

People feel that the EU is heading in a direction that they never signed up to. They resent the interference in our national life by what they see as unnecessary rules and regulation. And they wonder what the point of it all is. Put simply, many ask 'why can't we just have what we voted to join - a common market?'

Today the main, over-riding purpose of the European Union is different: not to win peace, but to secure prosperity.

It's not just other countries in Europe having a say over what we do. It's unelected bureaucrats in Brussels on sort of six-figure, huge salaries telling us how we run our country despite having never stood for an election themselves.