European Union treaties don't have to be changed to solve the eurozone debt crisis, the European Council president said. In a report leaked to the media, Herman Van Rompuy suggested amending a protocol attached to the Lisbon Treaty rather than changing the treaty itself, the BBC reported Wednesday. Both Germany and France are pushing for a new EU treaty with the United States backing their plan. Instead Van Rompuy proposes a "new fiscal compact" that does not need lengthy ratification by parliaments or national referendums. He said tougher fiscal reforms can be achieved by simply amending a protocol. Such a procedure needs national consensus but does not require substantial changes to the EU treaty. Some of the changes Van Rompuy envisions would give the European Commission power to impose austerity directly on bailed-out nations, the EUobserver reported. States that flouted debt and deficit rules potentially could have their voting rights in the council suspended. Van Rompuy's report was prepared for a crucial EU summit that begins Thursday.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor