"EU clears way for treaty change"

At a summit in Brussels, European Union leaders have adopted a plan to tighten budgetary discipline across the bloc, RFE/RL reports.

Izvor: RFE/RL

Friday, 29.10.2010.

10:54

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At a summit in Brussels, European Union leaders have adopted a plan to tighten budgetary discipline across the bloc, RFE/RL reports. European Union leaders early on October 29 cleared the way for changes to the bloc's treaty just 11 months after it brought the current rules into force, diplomats said at a summit in Brussels. "EU clears way for treaty change" Reports quoting unnamed diplomats say the leaders said it was necessary to create a permanent emergency fund for the eurozone, with Germany saying such a fund would be conditional on changing the bloc's treaty. The reports said the leaders also agreed a plan that would place the economic policies of EU members under tighter surveillance, and to adopt measures allowing the bloc to take preventative measures against debt and deficit offenders. Also at the talks, Britain led 10 other EU countries in its drive to reject a proposed 5.9 percent increase in EU's 2011 budget, saying any increase over 2.9 percent would be unacceptable. Budget negotiations are to begin next week.

"EU clears way for treaty change"

Reports quoting unnamed diplomats say the leaders said it was necessary to create a permanent emergency fund for the eurozone, with Germany saying such a fund would be conditional on changing the bloc's treaty.

The reports said the leaders also agreed a plan that would place the economic policies of EU members under tighter surveillance, and to adopt measures allowing the bloc to take preventative measures against debt and deficit offenders.

Also at the talks, Britain led 10 other EU countries in its drive to reject a proposed 5.9 percent increase in EU's 2011 budget, saying any increase over 2.9 percent would be unacceptable.

Budget negotiations are to begin next week.

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