Britain and the Czech Republic have again done a bad turn for the European Union
After the UK Czech Republic refused to sign a fiscal agreement at the EU summit in Brussels called by German Chancellor Angela Merkel "masterpiece". This was announced by Sweden Prime Minister Fredrik Reinfeldt.
According to Reinfeldt, the Czech authorities did not accept the document because of internal divisions in the Parliament on the ratification of the agreement. Britain also refused to sign the document and thus enter into the new union of fiscal stability in December 2011. Prime Minister David Cameron said that the rejection of closer economic integration with other countries was made to protect the financial sector and industry of the UK.
European Council President Herman Van Rompuy also confirmed that as a result of the the summit 25 of the 27 EU countries had approved the agreement, implying tighter fiscal policy to deal with the debt crisis. In particular, the agreement means imposing sanctions against countries where the budget deficit will exceed 3%, and defines the primary deficit of 0.5%. Designed on December 9, 2011, the agreement will enter into force on January 1, 2013, RBC reports.
The budget pact, which must become a new foundation for economical unity of Europe, is adopted by 25 EU countries. This is the main result of the first summit of EU leaders in 2012 which ended on Tuesday morning in Brussels. "Given the tight time constraints, it is a real masterpiece", German Chancellor Angela Merkel said.