Wednesday, December 15, 2010

EU Says No Referendum Needed for Permanent Rescue Fund Amendment

EU leaders are poised this week to agree an amendment to the Lisbon Treaty to create a permanent rescue fund for euro countries, a step they believe they can take without prompting another Irish referendum.

At a summit here on Thursday and Friday, the leaders of the 27 member states will agree to insert a paragraph into the treaty to empower euro zone countries to bail out any distressed member of the single currency.

The move comes amid disunity over the necessity for any new measures to boost confidence in the euro after Ireland’s rescue failed to calm financial markets.'


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