Saturday, January 7, 2012

New EU deal 'will freeze out Britain': France and Germany gang up over single market

Britain is facing a fresh battle over Europe after France and Germany unveiled plans to use a new treaty to meddle in the single market and use the EU’s institutions to do business behind the UK’s back.

A leaked draft version of the new ‘fiscal compact’ deal between other members of the EU, following David Cameron’s historic refusal to sign up last month, revealed the ‘euro-plus’ bloc intended to take decisions that relate to the EU’s internal market.

It also proposed a bigger role for the European Commission in overseeing tough new debt rules across the Continent.

The text insists these must be incorporated into EU law within five years – suggesting France and Germany aim to get Britain to reverse its veto and agree to the deal. Read More