UK to maintain veto on eurozone, says minister

Work and Pensions Secretary Iain Duncan Smith has insisted that Britain would block eurozone countries from using institutions paid for by EU nations.

The former Tory leader insisted he had absolute “trust” in David Cameron to stick to the ban, amid mounting speculation the Prime Minister has stepped back on the pledge ahead of today’s EU summit.

Pressed on the possible use of the European Commission and courts, funded by EU nations, in the push for deeper fiscal and political union among the 17 single currency members states, Mr Duncan Smith said: “The Prime Minister made it very clear at the last summit that the UK was not going to play a part in their treaty, we were not going to be involved in it and we did not want it to damage the single market or our own banking structures or financial structures.”