Situation has evolved. Not even a day can be lost if we want to meet the planned deadline: negotiations on the inter-governmental treaty on budget rules and economic governance for the eurozone will be resuming immediately. In the meantime, however, the situation has evolved on two different levels: it is no longer the same as that defined during the night of 9 December by heads of state and government, minus the United Kingdom. The most controversial aspects can be summarised in three...