Why did you give up £7 billion for nothing?

Britain’s presidency of the EU really has ended in failure.

During furious Commons exchanges, Mr Cameron said Mr Blair had set himself three objectives on the budget - to limit its size, ensure fundamental reform of the CAP and keep the British rebate unless reform occurred. But he protested: "Isn't it now clear that you failed in every single one."

Now that is what I call failure.

Shadow Foreign Secretary William Hague said: "Seldom in the course of European negotiations has so much been surrendered for so little."

A quote that will be repeated time and time again, until it becomes a classic.

To cap it all, the Prime Minister had only managed to secure a review of the CAP in 2008 - the year when France will hold the presidency of the EU.

So the review is just as likely to conclude that CAP spending should be increased. Thanks Mr Blair, I hope you get that lovely Brussels job you want so badly. After all it would be even worse if you gave up our cash for nothing.