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EU leaders agree to amend Lisbon treaty

10-30-2010 09:59 BJT

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EU leaders have agreed to establish a permanent crisis resolution mechanism to replace a 611 billion US dollar emergency safety net. They also voted in favor of amending the Lisbon Treaty to establish a preventive arm for deficit procedures. Tom Fearon has more.

EU leaders endorsed tougher sanctions on states that do not keep debt in check. The measures will be voted on at the next EU summit in December.

Another issue topping the agenda at the Brussels meeting was the Lisbon Treaty. German Chancellor Angela Merkel has won broad support for her call for changes to the treaty.

Angela Merkel, Chancellor of Germany, said, "It marks great progress on the issue of future application of treaties, because this establishes a preventive arm for deficit procedures. We will then have preventive and corrective mechanisms for quasi-automatic sanctions."

EU leaders also discussed next year's budget. British Prime Minister David Cameron declared that the budget should be moderate in an early draft of the summit's final statement.

The increase in the budget to 180 billion US dollars approved by the European Parliament caused protests among some of the 27 governments. Most EU members had agreed that next year's budget should increase only 2.9 percent.

Mark Rutte, Dutch Prime Minister, "I was totally against that the(six percent) and I am very happy that we are now able to limit the rise to the inflation plus one percent which actually then comes to 2.9 percent"

There is still some way to go in the process of amending the treaty.

EU President Herman Van Rompuy will report back on how any limited treaty change proposals might be carried out in December. The aim is to get the amendments ratified by all member states by mid-2013.

Editor:Yang Jie |Source: CNTV.CN

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