Government confirms it won’t back fiscal union
The Czech government has approved a strategy ahead of the upcoming EU summit on Thursday in which it will continue to oppose the concept of a fiscal union in Europe. The news was confirmed following a meeting of the cabinet on Wednesday. According to PM Petr Nečas, the coalition government has agreed that the end result of the EU summit will not involve a Czech signature on any pan-European plan to create a fiscal unity pact, primarily designed to stabilize the euro and bind governments towards fiscal responsibility. However, Nečas noted that the door remained open for future Czech agreement and urged other participating countries to move on without his country. Of the EU 27, 25 countries have agreed to sign the fiscal pact; the two holdouts are the United Kingdom and the Czech Republic, both not members of the eurozone.