Wednesday, January 11, 2012

A provisional victory?

In the latest draft of the intergovernmental treaty, this version of Article 1:
By this Treaty, the Contracting Parties, as Member States of the European Union, agree on a "fiscal compact" and on a stronger coordination of economic policies, involving an enhanced governance to foster fiscal discipline and deeper integration in the internal market as well as stronger growth, enhanced competitiveness and social cohesion.
… becomes this:
By this Treaty, the Contracting Parties agree, as Member States of the European Union, to strengthen the economic pillar of the Economic and Monetary Union by adopting a set of rules intended to foster budgetary discipline through a fiscal compact, to strengthen the coordination of economic policies and to improve the governance of the euro area, thereby supporting the achievement of the European Union's objectives for sustainable growth and employment.
And this, we are told is a "provisional victory" for The Boy. God help us if he is ever defeated.