THE INDEPENDENT: David Cameron today set out Britain's "red lines" on economic sovereignty at his first summit encounter with fellow EU leaders.
He said Britain would not submit its annual Budget for "peer review" to Brussels as part of a new economic surveillance crackdown.
And he warned that proposed hefty sanctions against countries breaching deficit and debt limits set by the EU must apply only to the single currency member states.
The new boy in the bloc was invited to speak early on in today's summit debate on EU "economic governance" and, after formally introducing himself, set out Britain's well-established defence against central control over the domestic budget programme.
Summit conclusions on the table seem to offer the Prime Minister a way out of the "peer review" plan, which would require all countries to submit annual national Budget details and analysis to Brussels before presenting them to MPs.
The text backed by most EU leaders proposes that, from 2011, in the interests of strengthening budgetary discipline across the EU, member states should present their budgetary plans to the Commission each Spring "taking account of national budgetary procedures". >>> Press Association | Thursday, June 17, 2010
