Monday 27 January 2020

Debt crisis: Full treaty change may not be necessary – Van Rompuy

Herman Van Rompuy. Photo: Getty Images
Herman Van Rompuy. Photo: Getty Images

A DRAFT document to be presented to EU leaders by the European Council, argues that many elements needed to bring the euro zone closer to fiscal union are already there.

The document, which European Council President Herman Van Rompuy will present to EU leaders meeting in Brussels this week, was obtained by RTE News.

It suggests that a relatively minor change to the existing rules on fiscal discipline, as enshrined in the Maastricht treaty, could be enough to avoid treaty change.

The report draws together, in advance of this week's crucial EU summit, the views of all 27 member states on what kind of changes may be needed.

It is not clear if the Franco-German plan, announced on Monday, forms part of the document.

A letter on the Franco-German plan is to be presented to Mr Van Rompuy today.

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