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Option three is pragmatic and careful (quite Tory, really): if major changes emerge in Europe in the next five years that shift the balance of power, then a referendum comes on to the agenda. If not, it doesn’t. That is the course that the party leadership has taken, and quite right they are, too.

"Cameron said very clearly: 'We're not interested in a political union, we want to take care of our own interests and retreat to our island.' But the rest of the continent does want political union because it's indispensible to save the euro and to protect our place on the world arena," Sikorski said. "Great Britain can retreat to its island. But it's in our [Poland's] interest to permanently safeguard our membership in the Latin civilisation, so we need tighter ties with the rest of Europe, not looser ones," he added.

Before the Election, David Cameron promised a Sovereignty Bill. In his speech entitled Giving Power Back To The People he said: ‘As we have no written constitution .  .  . we have no explicit legal guarantee that the last word on our laws stays in Britain .  .  . so, as well as making sure that further power cannot be handed to the EU without a referendum, we will also introduce a new law, in the form of a United Kingdom Sovereignty Bill, to make it clear that ultimate authority stays in this country, in our Parliament