New Treaty to Save the Euro

[Conley]

BRUSSELS — European leaders, meeting until the early hours of Friday, agreed to sign an intergovernmental treaty that would require them to enforce stricter fiscal and financial discipline in their future budgets. But efforts to get unanimity among the 27 members of the EU as desired by Germany, failed as Britain refused to go along.

In a day of historic, seemingly tectonic shifts in the architecture of Europe, all 17 members of the European Union that use the euro (http://topics.nytimes.com/top/reference/timestopics/subjects/c/currency/euro/index.html?inline=nyt-classifier) agreed to the new treaty, along with six other countries that wish to join the currency union eventually.

Three stragglers, the Czech Republic, Hungary and Sweden entered the fold later, after a strong diplomatic push.Twenty years after the Maastricht Treaty, which was designed not just to integrate Europe but to contain the might of a united Germany, Berlin had effectively united Europe under its control, with Britain all but shut out.

http://www.nytimes.com/2011/12/10/business/global/european-leaders-agree-on-fiscal-treaty.html

Personally I don't blame the Brits one whit for not being part of this. It won't save the Euro and it could cause more damage to the countries who climbing on board a sinking ship.

[Peter1469]

The Germans tried to get a section added to the treaty that says that a member of the Eurozone can leave the Eurozone and still be part of the EU.

I bet they are getting ready to bail on the Eurozone.

[Mister D]

"Europe" needs to be first and foremost a cultural or civilizational zone. A common market is ancillary. Markets don't bind men together. Nor do pieces of paper. Blood, tradition, and history reveal community. That's why we have more of a boarding house than a nation.

[MMC]

They also decided that if they are in.....an dont budget up, they want sanctions to be applied to those that don't make ends meet. Still doesnt change the fact the EU is going into recession.