| Author (Person) | Chaffin, Joshua |
|---|---|
| Series Title | Financial Times |
| Series Details | 14.12.11 |
| Publication Date | 14/12/2011 |
| Content Type | News |
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Article reported that Franco-German hopes for a sweeping new treaty to bind the eurozone economies more closely, agreed by twenty six of the EU member States at the European Council, Brussels, 8-9 December 2011, came under strain on the 13 December 2011 as several European Union leaders warned of difficulties pushing a far-reaching pact through their national parliaments. The pressure was particularly acute in non-eurozone countries, where at least four governments warned that the precise legal text would determine whether they could sign up to the treaty or otherwise join the United Kingdom on the sidelines. EUObserver reported that the European Commission was pushing to have the narrowest possible treaty to tightening budgetary rules among member states, arguing that most measures can be made using normal EU law-making procedures. The summit agreement of December 2011, according to the Commission, was very similar in tone and nature to the so-called six-pack of legislation, centralising budgetary surveillance, which came into force on the 13 December 2011 and to the further moves announced in that direction by the Commission in November 2011. |
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| Subject Categories | Economic and Financial Affairs, Law, Politics and International Relations |
| Countries / Regions | Europe |
