VILNIUS - On Jan. 30 EU leaders gathered in Brussels to discuss the details of the initial agreement of the EU summit of Dec. 9 on forming a closer fiscal union and stricter budgetary discipline that will include automatic penalties for countries whose deficits exceed 3 percent of GDP. This intergovernmental treaty is regarded by some observers as a step towards gradual transformation of the EU into some kind of a federal state.The treaty will empower the EU’s Court of Justice in Luxemburg to impose fines on the treaty’s rulesbreakingcountries. On Dec. 9, the agreemen...
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