At long last, after several false starts, the Lisbon treaty will finally come into force. As births go it was painful, including rejections, failed referenda and minor changes, not forgetting to mention that undue delays were the order of the day. At least the Irish referendum brought some relief with a spate of humorous campaigning. One commentator suggested there should be three boxes on the referendum ballot paper – as well as “yes” and “no”, a third choice of “yes please” was suggested to be appropriate, given that 77 per cent of Irish GDP in the last year has come in the form of European Central Bank loans.

For generations, many of the brightest and the best left Ireland to seek their fortunes abroad. European Union membership changed that migration, bringing investment, wealth, jobs and self-confidence. Ireland punches above its weight in Europe and has benefited from being the English-speaking member of the Euro zone. Whether or not the decline of inward investment, collapse of the housing market and the debacle of the two referenda will put a long-term dent in Irish influence within the EU is unclear. What is certain, however, will be the tragedy of the inevitable brain drain that follows economic decline. History, unfortunately, often repeats itself.

In the UK, we often forget that the EU is the only real game in town for nearly half of all member states. This does not mean that such countries always follow the path set down by Brussels or the big member states. Václav Klaus, president of the Czech Republic, showed that smaller member states duck and dive, leveraging every opportunity to deliver national self-interest. Securing an opt-out for his country from the charter of fundamental rights was a brilliant coup – it has precluded Germans from using the charter to claim compensation for property seized during the forced removal of millions of Germans from Eastern Europe after the second world war.

Attention in the UK has been focused erroneously on who will be the president of the EU and high foreign affairs representative. With a government low on popularity, UK influence is not high. The harsh reality is that successive administrations, both Labour and Conservative, have had real difficulties in being at the heart of Europe and any claims to the contrary are demolished by a cursory examination of the evidence. Now the UK needs to be thinking about how to protect national self-interest under the Treaty of Lisbon. The prospects look bleak. Incoherent policy and strutting on the European stage is not an answer and neither are opt-outs that marginalise influence. Leveraging the contribution – or rather “money”, as the UK is a net contributor to the EU budget – is the key.

What is a self-evident truth, regardless of who forms the next UK government, is that we cannot afford to throw advantages away for nothing. This is precisely what we did in 1997 by signing up to social Europe with much fanfare and chest-thumping but for no commensurate benefit. We squandered real advantage for nothing. There needs to be a new approach to Europe based on national self-interest and not hot air.