Professor Armstrong: Stability, Coordination and Governance: Was a Treaty Such a Good Idea?
In the margins of the European Council meeting on 2 March, the leaders of twenty five European states formally signed the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (the SCG Treaty aka ‘Fiscal Compact’ Treaty). When compared with the rancour of the December European Council summit which saw the UK Prime Minister block a direct revision to the EU treaties, for President Van Rompuy – celebrating his re-election as European Council President and appointment as the new Euro Summit President – the Spring European Council was conducted in a “team spirit”. More importantly, for Commission President Barroso, the treaty signalled the “irreversibility” of the Euro and underpinned its credibility. Read Professor Kenneth Armstrong's full blog article on eutopia.law.com