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Friday, March 2, 2012

EU Leaders Sign Fiscal Treaty Rejected By UK

EU leaders - except those from the UK and Czech Republic - have signed a new fiscal treaty to enforce tougher economic scrutiny.

The Treaty for Stability, Co-ordination and Governance was signed by 25 of the bloc's 27 leaders at an EU summit in Brussels.

The deal is the culmination of months of effort to demonstrate tighter financial discipline and calm market fears about the euro.

It was forged after UK Prime Minister David Cameron dramatically vetoed plans for a 27-nation treaty change to beef up eurozone rules.

The resulting accord sees him sitting - contentedly - on the sidelines with only his Czech counterpart for company.

Mr Cameron was in a separate room while the treaty was signed. Read More