Leader: Things set to get worse for Britain

The saving grace of the whole Eurozone disaster has been that Britain is not in the Euro and has not been directly embroiled in the chaotic mess.

But a week is a long time in politics and the fears that Britain would not be able to avoid being dragged in are being borne out.

Only last week George Osborne was stating quite categorically that British money would not be used to bail out our European neighbours.

Now we find that Britain is to make a payment through the back door by pumping more cash into the International Monetary Fund to increase the funds available to support ailing economies - with Italy and Spain predicted to be among the first with the begging bowl.

David Cameron's fig leaf to explain this to his backbenchers is that it is not a direct bailout payment.

That is a slippery justification. It is British money and it is money that this nation cannot afford, and should not have to be coughing up.

Mr Cameron simply says it is right to make the contribution at a time of crisis. Baldly saying doing something "is right" has become his hallmark phrase.

His pals in the European club will entirely agree that it is right as Britain is taken for a mug yet again.

It makes you wonder, not for the first time, what Mr Cameron stands for, and who he stands for.

On so many things he seems prepared to roll over.

It would be nice if he showed some backbone and some conviction on something. Maybe he is scared that should he do so, he will be compared to Margaret Thatcher.

So we have to ask who is David Cameron - and does he know the answer himself?