This afternoon's announcement by Cameron on his revised approach to giving the British people a say on Europe could be the important of his political career. His voter base is people who want to get rid of Labour rather than people who want to see Dave in Number Ten. To prevent this fragile promise of power from slipping from his hands, Cameron must make a clear and unambiguous commitment to allowing the people of Britain to determine their own European future.
The grass roots of the Conservative party are not happy either. North Norfolk Tories, dubbed the 'Turnip Taliban' by metropolitan Statists, are in open revolt at the prospect of one of Dave's 'A' List slappers pretending to represent them. Cameron's embrace of Localism doesn't extend to the primacy of local associations, it seems.
Meanwhile Ian Blair, Jacqui Smith and Michael Martin are all taking advantage of their unemployed status to appear more human and less culpable in a series of well-publicised reflections on their decline and fall.
All of these mean that Cameron is less powerful today than he was last week, his options more limited and his support more fragile. Yet he still prefers to balance on the tightrope than plant his feet on a soapbox; perhaps the time is not yet right, perhaps he's holding his fire. There's a long time between now and next May, and if UKIP get their act together they could well divide Cameron's vote at the polling booth.
There's everything still to play for.