BOLTON Euro MP Chris Davies has claimed the Prime Minister’s decision to veto a new European Union treaty has “betrayed” Britain and will ensure a “two-speed Europe”, as the debate continued to rage last night.

David Cameron yesterday defended his decision amid criticismfrom Deputy Prime Minister Nick Clegg that the move was “bad for Britain” and even told the Commons that the Government’s negotiating position was agreed with the Cabinet before the decision was taken to wield the UK’s veto in Brussels.

However, North West Lib DemMEP Mr Davies said: “Far from keeping Britain strong, Cameron has ensured that we will lose our influence at the top table.

“By seeking to protect bankers from regulation, he has betrayed Britain’s real interests and done nothing in practice to help the City of London.

“The fear now must be that we will increasingly lose the opportunity to affect decisions being taken that are bound to affect us.

“The consequence of the xenophobic attitudes towards our European neighbours that have been allowed to develop has been to leave Britain weak. We have shot ourselves in the foot.”

But North West Tory MEP Sajjad Karim said it was the “right thing to do” for the UK and for Europe.

Mr Clegg said he was “bitterly disappointed”

with the Prime Minister’s use of the veto in Brussels last week.

In a statement to the Commons yesterday, the Prime Minister insisted that he could not sign up to treaty change without securing “reasonable safeguards” for British interests.

But Mr Clegg said the PM had failed to bring back any new safeguards for the UK economy.

He added: “I’m bitterly disappointed by the outcome of last week’s summit, precisely because I think now there is a danger that the UK will be isolated and marginalised within the European Union.”

Labour leader in Bolton, Cllr Cliff Morris, said: “I think the Prime Minister acted too quickly. There should have been more talking. I don’t think it is a good stance and I am concerned that Britain could become isolated.”

Cllr John Walsh, leader of the Conservatives in Bolton, said: “The Prime Minister has stood up for Britain.

It is going to be tough but it would have been even tougher had he not done what he has done.

His position makes us much stronger.”