| Author (Person) | Spiegel, Peter |
|---|---|
| Series Title | Financial Times |
| Series Details | 31.1.12 |
| Publication Date | 31/01/2012 |
| Content Type | News |
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Report of the outcome of the informal European Council summit of EU Heads of State and Government, Brussels, 30 January 2012. At the informal summit a new Treaty on Stability, Coordination and Governance in the Economic and Monetary Union was finalised by all EU member states with the exception of the United Kingdom and the Czech Republic. The Treaty aimed to strengthen fiscal discipline through the introduction of more automatic sanctions and stricter surveillance, and in particular through the 'balanced budget rule'. The treaty would be signed in March 2012 and would enter into force once it had been ratified by at least 12 euro area member states. It would be legally binding as an international agreement and will be open to the EU countries which do not sign it at the outset. The aim was to incorporate the Treaty into EU law within five years of its entry into force. |
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| Subject Categories | Economic and Financial Affairs, Law, Politics and International Relations |
| Countries / Regions | Europe |
