The man would most likely be the permanent “King” of the New Europe. In a move to convince on his democratic point of views, the future absolute ruler of EU, President of European Council Herman Van Rompuy sat down at a table and wrote down his proposals for the future of the European citizens. In his fast-track ‘fiscal compact’ offer ,Van Rompuy claims that that there should not be a new EU Treaty but only some changes in existing treaties, so that “lengthy ratification by parliaments or national referendums” will not be necessary.
For some of the things German Chancellor Merkel and French President Sarkozy propose, like “automatic sanctions against the countries that break the rules”, make the amendment of the Treaty necessary and for that the consent of all 27 member states is needed. As all the member-states “have their little red lines”, a tough negotiation would be due and maybe the plan to create the Economical United States of Europe might fail.
Apparently Van Rompuy tries to bypass the sovereignty of national parliaments with his dynamic offer.
British BBC correspondent has the report on Van Rompuy’s proposal:
‘Negative implications’
Mr Van Rompuy will be chairing the two-day summit, and all the signs are that it could be a bruising affair, the BBC’s European affairs correspondent Chris Morris reports.
In the interim report, details of which have been obtained by the media, Mr Van Rompuy proposes a plan aimed at agreeing a “new fiscal compact” without holding a referendum or ratification by the parliaments of each eurozone country.
The draft says that tougher fiscal reforms can be adopted simply by amending a protocol – a procedure that needs national consensus but does not require substantial changes to the EU treaties.
This, Mr Van Rompuy argues, would speed up the implementation of reforms and remove any potential political complications.
- Each eurozone member’s budget deficit should be below 3% of GDP and national debt under 60%
- A “golden rule” should be enshrined into national legislation to guarantee a balanced budget in the medium term
- The eurozone bailout fund to be given a banking licence to borrow directly from the European Central Bank (ECB)
- The European Commission to have the power to impose austerity measures automatically on countries which require bailouts
However, Mr Van Rompuy acknowledges that more far-reaching reforms would eventually require a change in EU treaties.
Some of the report’s proposals tally with the Franco-German plan how to tackle the crisis, but some do not.
source: BBC
PS To tell you the truth I have no idea how the construction of Rompuy’s palace worth 290 million euro is proceeding. It has to be ready by 2014, when all the EU citizens will have to strictly tighten their belts to pay among other for the palace as well. I wouldn’t be surprised if at the end I hear him shouting “my horse for a throne!”
