Friday, December 9, 2011

Britain Vetoes Changes To Eu Treaty and EU Moves Ahead Without UK

Der Spiegel reports on the summit meeting in Brussels. The meeting included the members of the eurozone and those states that belong only to the EU, Germany and France took the leadership by proposing changes in the treaty which formed the EU. Changes to the treaty were blocked by a British veto by David Cameron. He opposed any changes to the treaty that would affect The City, which is Britain's financial center that operates much like Wall Street in the US. Since changes to the treaty were blocked by the UK, the meeting turned to making changes in the eurozone that create a deeper fiscal union as well as provide mechanisms to deal with problems in the periphery states. Details were still being worked out as the meeting ended early Friday AM.

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