Negotiators from 26 member states have reached broad agreement on the new fiscal treaty, paving the way for a formal agreement by EU leaders at the end of the month.
EUobserver understands that the role of the European Commission will be kept as stated in the latest draft - it is to have "reporting" powers rather than being able to take deficit sinners to court over failure to enshrine a "golden rule" on balanced budgets in their constitution or other long-term-binding legislation.
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