A new EU in the making - with Germany in charge

[ The New York Times ] 10 Dec

Europe’s worst financial crisis in generations is forging a new European Union, pushing Britain to the sidelines and creating a more integrated, fiscally disciplined core of nations under the auspices of a resurgent Germany.

New EU - less England

German Chancellor Angela Merkel persuaded every current member of the union except Britain to endorse a new agreement calling for tighter regional oversight of government spending. The accord, approved at a summit meeting in Brussels early on Friday, would allow the European Court of Justice to strike down a member’s laws if they violate fiscal discipline.

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Posted in: Crisis, EU, Europe, Fiscal Crisis, Germany, New EU