New treaty gets EU legal clearance, UK sidelined

Features reports developments on the eurozone debt crisis on the 16 December 2011.

EurActiv reported that a draft intergovernmental treaty to tighten fiscal discipline in the eurozone received the green light from the European Council's legal service, paving the way for a final text to be agreed by the end of January 2012. The new treaty would come into force once nine Member States had ratified it.

EurActiv suggested that the announcement would come as a blow for the United kingdom, which had expressed doubts that the EU institutions could be used to police the new intergovernmental deal, agreed outside the EU legal framework.

ESO: Background information: Move to limit scope of eurozone treaty http://www.europeansources.info/record/move-to-limit-scope-of-eurozone-treaty/

European Council: Copy of draft International Agreement on a Reinforced Economic Union, December 2011 http://www.euractiv.com/sites/all/euractiv/files/Draft%20Treaty.pdf

BBC News, 16.12.11: UK 'fully engaged' in eurozone deal talks http://www.bbc.co.uk/news/uk-politics-16209414

European Council: Statement by the Euro Area Heads of State or Government, 9.12.11 http://consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/126658.pdf

EUObserver, 16.12.11: New treaty in force when 9 countries have ratified http://euobserver.com/19/114668

EurActiv, 16.12.11: Forum in December, summit in January to draft new treaty http://www.euractiv.com/euro-finance/forum-december-summit-january-news-509768

EurActiv: Links Dossier: Europe's new treaty: Towards a multi-speed Union, December 2011- http://www.euractiv.com/future-eu/europes-new-treaty-multi-speed-u-linksdossier-509753

EurActiv, 19.12.11: Denmark to keep distance with EU treaty talks http://www.euractiv.com/future-eu/denmark-keep-distance-eu-treaty-talks-news-509799

Spiegel Online International, 15.12.11: Britain Looks for Allies among the EU 26 http://www.spiegel.de/international/europe/0,1518,804028,00.html

Spiegel Online International, 16.12.11: The Pitfalls of the Merkozy Fiscal Pact http://www.spiegel.de/international/europe/0,1518,803923,00.html

EUObserver, 21.12.11: Doubts increase over usefulness of new fiscal treaty http://euobserver.com/843/114698

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