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UK threatens eurozone, others over EU institutions

UK threatens eurozone, others over EU institutions

The 17 euro states and six other EU states early Friday agreed to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis.

Britain's Prime Minister David Cameron is threatening that he may not allow a group of 23 European Union states that plan to set up their own treaty and use EU institutions.

FULL COVERAGE: Europe's debt crisis

David Cameron says: "The institutions of the European Union belong to the European Union... belong to the 27 member states."

ECB says no to more bond buys

The 17 euro states and six other EU states early Friday agreed to create a new treaty that will allow them to introduce stricter fiscal rules in the hope of containing a worsening debt crisis.

Know all about Euro debt crisis

They plan to rely on the European Commission and the European Court of Justice to enforce those rules.

Cameron said it was not in the UK's interest to join the new treaty because he could not get special safeguards for the country's financial center.

Published on: Dec 09, 2011, 12:56 PM IST
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