EU Deal: What's Your Take?

Tony Blair has agreed to surrender Britain's veto on European policy-making in more than 40 areas including: asylum and immigration, social security, intellectual property, energy, culture, and civil protection. We've also given up our veto in exchange for an opt-out on issues of foreign affairs, justice and home affairs. We will now have a full-time European President and a new foreign affairs chief. The European Union also now has the right to join and represent us in international organisations.

The Foreign Secretary insists "This is not a massive change." Maybe I don't understand "massive" in NewLabour's NewSpeak...

5pm UPDATE: The Bruges Group says that Blair has agreed to surrender 63 vetoes, noting that "if this agreement comes into force it will hand over more than twice the number of powers given away at Maastricht and over five times the number needed for the creation of the Single Market."