Monday, December 12, 2011

New Treaty falling apart before negotiations commence

The FT reports in detail on the confusion over the Non-EU Treaty and the planned use of EU structures and personnel, linked here.

As usual "Another fine mess" Olli Rehn, is in the confusion up to his inverted ankles as my be gleaned from these brief quotes:

Olli Rehn, the European commissioner for economic and monetary affairs, said the new treaty was likely to only serve as “an umbrella” to give more permanence to already-agreed policies on fiscal discipline....

"If you want to introduce and implement automatic sanctions, to which there is a reference in the new fiscal compact, it may be that you may require a treaty change for that,” Mr Rehn said.

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