Officially the bailouts that have been happening within the EU/Eurozone are illegal under the relevant treaties. But as there seems to be no court to enforce these treaties, this fact has been ignored.
However, to now regularise these bailouts, the treaties/laws are to be amended to retrospectively legalise the bailouts.
Prior to the last election and subsequently, after the establishment of the coalition government, David Cameron and his Conservatives have promised the people of the UK that there will be referenda on any future changes to our relationship with the EU that may impact UK sovereignty.
Putting these two issues together, a significant treaty change and the promise of referenda one might have expected a referendum on the proposed changes to the Lisbon Treaty. However, if this is what you expected then you would be disappointed as William Hague has said that there will be no referendum on this matter.
The Conservative governments argument against holding the promised referendum is that the change only affects Eurozone countries, of which the UK is not one, so the change makes no difference to the UK.
However following the initial £7 billion bailout of the Euro/EU/Ireland it is clear that Eurozone issues are essential to the UK's national interest. Especially as conservative/coalition chancellor George Osborne has refused to rule out possible future bailouts of other Eurozone countries - Portugal, Greece and Italy.
There can now be no argument against having UK referenda on any treaty changes within the EU - even if only Eurozone countries are being targeted. While we are in the EU, then regarding the Euro and Eurozone 'we are all in this together'.
We may not be in the Eurozone but it clearly governs our actions - so where is our referendum?