The net result is that it seems highly probable that any attempted achievement of a “new settlement,” including repatriation of competences, will make it much more difficult for Britain to remain in the EU than would be the case if a straightforward “in/out” referendum were held now. So, far from reassuring anyone (including Tory Euro-skeptics), Cameron’s stance heralds a new era of turbulence and uncertainty for Britain and its European partners.