The official statement from the EU summit is a bureaucrat's dream of rules, triggers, levels, and mechanisms. The proposal creates far stricter rules over member state budgets, with greater EU oversight over nations that stray, and looks like a first step towards ultimate fiscal union. It's not hard to see why the U.K.'s Cameron ran the other way.
The official statement from the EU summit is a bureaucrat's dream of rules, triggers, levels,...
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