Friday, December 9, 2011

UK Isolated as Europe agrees on new Fiscal Union

[ Reuters ] 9 Dec

Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.

UK Isolated as Europe agrees on new fiscal union
Twenty-three of the 27 leaders agreed to pursue tighter integration with stricter budget rules for the single currency area, but Britain said it could not accept proposed amendments to the EU treaty after failing to secure concessions for itself.

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