The work in progress to draw up a new treaty (agreement) to cover the economic arm of the eurozone is having an impact on the EU more widely, well beyond purely financial and economic issues. This root-and-branch reform of the financial world is gradually bringing in new discipline using an approach which necessarily progresses in stages. The pact under negotiation is influencing the wider political world and the future of the European project. I consider three specific aspects below.
Wider...