Eurozone deal: Your views
British Prime Minister David Cameron has vetoed a proposal to change an EU treaty, saying it was not in the UK's interests.
Twenty-three countries have backed the deal which will involve greater co-ordination of national budgets and penalties for those that break the rules.
The majority of BBC News website readers in the UK who have been getting in touch with us about this story believe Mr Cameron made the right decision - here is a selection of your views:
Neil Monson, Peterborough
Well done David. At long last we have a prime minister with guts to stand up to the French and Germans. We don't need them.
We are a globalised nation - we trade with the emerging markets of India, China and Brazil. We don't need Europe.
Not being part of a new treaty will not make any difference to the UK at all. Norway are not in the treaty and they trade very well without it.
If people need our goods they will buy them wherever they are regardless of whether we are in the euro or not.
Now we can control our own economy without interference from Europe.
That way we can make our own interest rates and will be better off - unlike Portugal and Greece who have to do as Europe says no matter how much financial trouble they are in.
Countries such as Greece are in a catch-22 situation. Thank God we are not in that position.
I have no affiliation with the Conservatives. If anything I would vote for the UK Independence Party. As for the Lib Dems - they simply sit on the fence.
Peter Phillpotts, Matlock
I always thought that Cameron would make a hash of this. He is no statesman.
He does not have the strength of character or sufficient faith in his own convictions - whatever they are.
He should face the euro-sceptics in his party and adopt a position which is truly in both the EU and UK's best interests.
There are too many people like Hague standing behind him whispering anti-EU nonsense in his ear.
It is a stupid idea to veto the treaty. We cannot go back to 1945 when the British and American Armies ran Europe.
This is a massive backwards step. It will of course affect our trade within Europe. We need them not only for trade but for relations and allies as they are so close to us.
This decision makes Britain look anti-EU and this will cause problems and upsets through Europe.
Jonathan Newman, Brighton
The debate will be framed as to whether the UK should be 'in' or 'out' of the treaty - but what will this obscure?
The prime minister has now whipped up a populist approach by centring his comments on 'sovereignty' and EU legislation, then directing his discussion to anything but legislation on finance.
Earlier in the week discussion within the UK was about how a high proportion of UK GDP was derived from a finance sector that France and Germany now want to regulate.
So far the British government has colluded and provided impunity to this finance sector that was responsible for the global economic collapse that has precipitated this euro crisis.
Rather than appeal to populist arguments would it not be more honest to put the cards on the table and declare that the powerful financial institutions that got us into this mess are still controlling the UK agenda and actions?
I have no political affiliations. I am about to complete a PhD in economics and conflict and find the subject very interesting. This is really about protecting British banks - there is hypocrisy in what Cameron is saying.
More of your comments
James Georgeson, in Port St Mary, Isle of Man: Why is Britain getting all the bad press? If any countries such as Germany or Croatia had felt it was not in their nation's interest then they would do the same as the PM.
William Comrie, in Dunfermline: I suggest that the European leaders put aside their egos for once, write off some of the debts of the failing countries, allow those who wish to go outside of the euro to do so and for these leaders to be humble and admit they made a mistake. Maybe the big players should go back to the Treaty of Rome and leave it at that. If you are not in at the beginning then you should not join.
Jon, in Southport: Great decision prime minister. The financial troubles in the eurozone go much deeper than what we understand from the media - the UK population has already resolved our banking crisis and we are not bailing out the rest of the eurozone! It's hard in the UK, but at least we are tackling our debt unlike the other eurozone countries who just want to talk about it.
David Astall, Poulton, Lancashire: I praise the PM for doing this. Europe has done nothing for us and never will. If Germany or France had vetoed this agreement would Europe have cared? The simple answer is no. The Germans and the French dominate Europe and bully all the other nations into going along with them to keep their best interests at heart.
Peter Curran, Kirkliston, West Lothian: We were wrong to object. The sooner Scotland is out of the UK the better, and then we can play our own constructive part with our European partners. I'm not saying we should have joined the euro but we should not appear to be exercising a veto. It leaves the UK isolated within Europe and I believe that this is deeply damaging to the UK