Every European Union country except for one are ready to join the 17 members of the euro zone to put together a new intergovernmental treaty aimed at a more unified fiscal union. In fact, twenty-six of the twenty-seven European Union leaders agreed to work towards greater integration with harsher budget discipline, except for Britain. As things stand now, Britain said that they could not accept the proposed EU treaty amendments because they themselves were not able to secure concessions.
This new treaty would not come overnight and could take up to three months to negotiate out the terms between all parties involved. In addition, some countries may have to hold referendums before their leaders would be able to move forward.
Please remember this is just a rough draft and a very early plan to tackle the European debt crisis. Invest wisely out there and remember to consult your financial professional with any questions or concerns.
Eric Marvin, CFP®, CRPC®
CERTIFIED FINANCIAL PLANNER™
