Bloomberg News

U.K. Official Will Attend Meetings on EU’s Fiscal Rule Changes

December 15, 2011

Dec. 15 (Bloomberg) -- An official from Britain’s Treasury will sit in on European Union meetings that will decide on tighter rules for euro-area national budgets, a U.K. government official said.

The official will be part of a group reporting to EU finance ministers that will work toward agreement on detailed proposals, spell out plans for implementation and decide on which institutions of the 27-nation bloc can be used to apply the accord.

The U.K. official was asked to join the group in Brussels today, less than a week after Prime Minister David Cameron’s demands to protect London’s financial industry almost wrecked an EU summit that was discussing how to rescue the euro.

The U.K. leader refused to join the 26 other EU nations in backing a new treaty for the bloc after he failed to secure safeguards that would have stopped EU plans to police financial services in London, Europe’s trading hub.

--Editors: Eddie Buckle, Fergal O’Brien

To contact the reporter on this story: Gonzalo Vina in London at gvina@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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