EU treaty cracks emerging while Merkel rejects increased ESM

More Mads Koefoed, 9 hours ago14 December 2011 Non-Independent Investment Research The most awaited December 9 EU summit saw most of the EU agree to a new treaty and Eurozone leaders have huffed and puffed ever since to convince us all that the new treaty was a decisive step in the right direction. The only problem being that EU leaders had forgotten to ask their respective national parliaments, which along with most populations, seem discontent about the whole arrangement. While the UK moved swiftly at the summit itself and vetoed the new treaty four additional countries are rumoured to be considering renegating on their original (pro-) stance. Add to this that Chancellor Merkel rejected an increase to the European Stability Mechanism yesterday and that France has no plans for a budget vote and the picture looks grim.