Sunday, October 23, 2011

EU leaders agree to revise treaty

European Union leaders have agreed to change the bloc's treaty if necessary in the interests of economic convergence and discipline, Herman Van Rompuy, the EU president, has said.

Speaking after EU leaders held crunch talks in Brussels to nail down a solution to the worst economic crisis in its history, Van Rompuy said: "We decided to explore the possibility of limited treaty change.

"The aim is deepening our economic convergence and strengthening economic discipline. Limited means not a general overhaul of the institutional architecture.

"We also said that we would need the agreement of all the 27 [member states] before we can decide on a treaty change.

"The most important thing is not to change the treaty, the most important thing is to strengthen economic convergence."

No indication that they actually get it yet though.
French President Nicolas Sarkozy backed down on Sunday in the face of implacable German opposition to demands to use unlimited European Central Bank (ECB) funds to fight the eurozone's deepening crisis.


Matt Franko said...

"and strengthening economic discipline"

Forget it.

NeilW said...

It'll be interesting to see if they do that whether it genuinely triggers a referendum in the UK over membership of the EU.

The government has threatened one, but will they try and water it down?