European Council President Herman Van Rompuy, in addressing the European Parliament on 13 December, reaffirmed that the new Fiscal Treaty to be signed by 26 EU member states, with the exception of Britain, will be ready by the end of March 2012.

All 26 signatory governments will apply the stricter fiscal and economic rules, which were initially meant for the 17 Eurozone countries, but which are now seemingly to be adopted by all 26 countries. During the same period, from now until the end...

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