Is Britain better off without Europe?

Prime Minister David Cameron last week did what many British leaders before him have been perceived as too weak to do and said “No” to the ever-increasing demands of Europe.

His use of the veto during last week's crisis talks to save the euro has effectively ostracised Britain from the rest of Europe.

Cameron maintains he acted in the best interests of Britain – and certainly his support at home has soared as a result.

In essence he has tried to insulate the UK as much as possible from the effects of the potentially castastrophic euro zone crisis and retained Britain's ability to rule itself.

But is Britain really better off as an outsider cut off from the rest of Europe – or will this be more damaging to British jobs and the country's economic prospects in the long term?

Instead of safeguarding the City will, for example, Frankfurt now become the centre of European business?

Deputy Prime Minister Nick Clegg certainly has voiced his concerns at Cameron's actions but is he right or is Britain better off without Europe?