Tuesday, January 31, 2012

England and the Czech Republic opt out of fiscal compact

While the EU members agreed to enforce budget rules - a treaty that will empower the European Court of Justice to monitor compliance and impose fines on rule-breakers, England and the Czech Republic have decided to opt out of the treaty as both governments consider it impact to threaten their interests.

The Czech Republic is not yet in the euro, but like the other new EU member states it is committed to joining.

Read more: BBC News Europe
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