With US Treasury Secretary Timothy Geithner visiting the main European capitals, including Frankfort where he met with the ECB governor Mario Draghi, the Brussels skies are not so clear, following the common Franco-German proposal for a tight fiscal Union to be included in the EU Treaties.

The European Commission and European Council President Herman van Rompuy appear to have adopted differing stances on what the 8-9 December European Council of the 27 heads of states and governments shou...

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