The negotiations on the creation of a fiscal capacity for the Eurozone between, on the one hand, the Social Democrats and, on the other, the Liberals and Christian Democrats of the 'economic and monetary affairs' committee (ECON) of the European Parliament continue to be extremely tense over the reference to European budgetary rules as a precondition for Eurozone countries to access any financial support (see EUROPE 11711, 11710).
The reference to the Stability Pact “assumes that the...