31/01/2012 - UK and Czechs Refuse EU Budget Control Deal
UK and Czechs Refuse EU Budget Control Deal.
Twenty-five of the EU's 27 member states have agreed to join a fiscal treaty to enforce budget discipline. The Czech Republic and the UK have refused to sign up.
According to Prime Minister David Cameron, the government would act if the treaty threatened UK interests. He stated that he still has legal concerns about the use of EU institutions in enforcing the fiscal treaty.
The treaty will empower the European Court of Justice to monitor compliance and impose fines on rule-breakers. The treaty also spells out the enhanced role of the European Commission in scrutinising national budgets.
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