Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-039-000"
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"en.20120215.4.3-039-000"2
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"Mr President, the Fiscal Compact which Heads of Government will soon be asked to sign is a private agreement open to all EU States, but does not have to be agreed by all States. It is not, therefore, an official EU Treaty. Whilst Member States can, under Article 273 of the Treaty on the Functioning of the European Union, bring an alleged breach of a private agreement to the Court of Justice, there is no provision in the Treaties for the Court to enforce agreements on excessive budget deficits, despite claims to the contrary, and it might not even be able to adjudicate on them.
If the parties to this agreement wish it to be enforceable, it will have to become a Treaty agreed by all Member States. Mr Cameron saying that he does not object to the European Court or the European Commission being used is simply not enough for it to become a Treaty.
When the British Prime Minister vetoed the proposed Treaty in December, he did so to protect his friends in the City. I hope that at future European Council meetings, Mr Cameron will veto any attempt to turn this agreement into a Treaty, with the purpose of preventing the creation of an economic straitjacket that might one day be imposed on Britain."@en1
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