The Chancellor was pressed on whether the new structures the EU produces in response to the euro crisis would involve reshaping the UK's relationship with Brussels.
He said: ''What the public are concerned about, what the British people are concerned about would be if there was any transfer of power or sovereignty.
''A reshaped relationship with Europe would imply, would involve, a transfer of sovereignty or powers from the UK to Brussels.''
But he said there was a ''very clear safeguard'' that if there was a proposed transfer of powers ''then there will be a referendum''.
''That is not something that happened at the time of the Lisbon Treaty and the constitution, that is not something that happened at the time of the Maastricht Treaty.
''We have now put right that by ensuring, in law, there is this referendum lock.''
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