Veto why use the word ?

Neither.

The veto has prevented the 17 Eurozone nations from formally implementing through the treaty a series of reforms that would have allowed certain European institutions (Commission, Court of Justice and Central Bank) power to censure and fine countries that breached specific treaty agreements around national debt, borrowing and taxation. However they are still free to seek this through the fiscal pact that is being mooted or even through the introduction and acceptance of national laws that have the same or substantially the same effect.

The EU continues as normal and Britain remains a key player in any future discussions on the same subject.