When David Cameron joked that he was taking a "tantric" approach to his long-delayed EU speech  (telling journalists at a Press Gallery lunch in Westminster, "it will be even better when it does eventually come"), he cannot have known how prophetic that quip would prove to be.

The speech, which was finally due to be given tomorrow in Amsterdam, has now been postponed again due to the hostage crisis in Algeria. Rather than travelling to the Netherlands, Cameron, who warned of "bad news ahead", will now remain in London to chair a meeting of Cobra, the government's crisis management committee.

He said: "We face a very bad situation at this BP gas compound in Algeria. A number of British citizens have been taken hostage; already we know of one that has died. The Algerian armed forces have now attacked this compound. It is a very dangerous, very uncertain, very fluid situation.

"We have to prepare ourselves for the possibility of bad news ahead. Cobra officials here are working around the clock to do everything we can to keep in contact with the families."

There is no word yet on an alternative date for the speech but pre-released extracts are likely to appear over night.