As I surmised yesterday, David Cameron will come under fire for his surrender on the fiscal pact. I await with interest his statement and response to questions in the House of Commons later this afternoon. From hero to zero is a month as far as the Tory euro-sceptic MPs are concerned. A betrayal really, giving in to the euro-fanatic Clegg.
http://www.telegraph.co.uk/finance/financialcrisis/9050918/Eurozone-leaders-sign-up-to-budget-controls.html
German Chancellor Angela Merkel said that although Cameron had shown no sign of relenting in his opposition to treaty change, the new pact could be easily slotted into EU law at a later date and she expected it would be within five years.
http://www.telegraph.co.uk/finance/financialcrisis/9050404/David-Cameron-accused-of-appeasing-Nick-Clegg-over-EU-veto-as-Conservative-MPs-start-to-plot.html
http://www.bbc.co.uk/news/uk-politics-16807226
Tory backlash
http://www.telegraph.co.uk/finance/financialcrisis/9051504/Ed-Miliband-David-Cameron-has-sold-Britain-down-the-river-in-Europe.html
Meanwhile, away from the domestic politics:
http://www.spiegel.de/international/europe/0,1518,812398,00.html
EU summit marred by fears of German domination.
I was taken by a comment that the idea of the European project was to make Germany more European and that what is happening is precisely the opposite.
http://www.spiegel.de/international/europe/0,1518,812299,00.html
Austrian take on the fiscal pact.
UPDATE:
http://www.bbc.co.uk/news/uk-politics-16807226
Cameron defends stance over EU institutions
http://www.telegraph.co.uk/news/politics/david-cameron/9052230/David-Cameron-we-will-take-legal-action-against-European-countries-to-protect-British-interests.html
http://blogs.telegraph.co.uk/finance/jeremywarner/100014524/germany-has-every-right-to-impose-a-gauleiter-on-greece/
http://www.spiegel.de/international/europe/0,1518,812565,00.html
ESM plus EFSF plus IMF combined firewall.
See also:
http://www.bbc.co.uk/news/uk-politics-16822171
http://www.bbc.co.uk/news/uk-politics-16808120
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