The Open Europe think tank is due to issue a report this week that says the Eurozone will, by 2014, have a permanent majority in the EU council of ministers.
This will make it extremely difficult for the other members of the EU to fight their corners in negotiations. The Eurozone is effectively becoming one country, which of course has always been the plan.
This will put sovereignty of nations at risk and for the UK severely damage the interests of the City.
As the members of the Eurozone integrate ever further, their interests will become more intertwined and common. Their ministers will therefore tend to vote more and more as a caucus in EU votes.
The Telegraph reports the director of Open Europe, Mats Persson, as saying that this was a 'timebomb' as the Eurozone would be able to 'bulldoze over the interests of those outside the single currency'.
The report it seems does not mention the imbalance of MEPs, where the Eurozone has a scary 64% of them. That leaves those countries outside the Eurozone with just 36% to vote with.
The Eurozone then already has more MEPs than the rest of us put together and will also be able to power their agenda through any council of ministers' votes by 2014. It will be the Eurozone and the rest. Not two speed but two tier with the UK firmly in division two.
As I have said before, we now need to treat the Eurozone as a single country. That is it should have the number of MEPs within it reduced under the concept of degressive proportionality and it should also have any other voting powers reduced accordingly.
We cannot allow a group of countries to pool their sovereignty and then use it to disadvantage the rest.
But of course this will never happen as the plan is that the Eurozone must become all-powerful, or how else could the expansion of the European dream be accomplished.
We in the UK have a choice over the Eurozone:
1. Fully commit to the European project and Eurozone and hope we can somehow keep a sort of national identity for as long as we can.
2. Stay as a second division player and watch helplessly as our nation declines to the point we have to opt for the choice above.
3. Get out now while we can and forge our own way in the world and build up a truly worldwide trading nation.