European states sign new fiscal treaty

BRUSSELS (AP) -- The leaders of 25 European states have signed a new treaty designed to prevent the 17 euro countries from running up huge debts in order to prevent a repeat of the current crisis afflicting the single currency zone.

European Council President Herman Van Rompuy, who oversaw the drafting of the accord, said the treaty will bring an "economic and monetary union that is finally walking on two legs."

Of the 27 European Union states, only Britain and the Czech Republic decided not to sign the treaty.

The eurozone's heads of state and government hope the accord will help them overcome a two-year debt crisis.

However, now all signatories have to ratify the new treaty at home -- a process that may prove difficult in some places. Ireland has already called a referendum.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 141160493