Why the Czechs did not sign up to the fiscal treaty. EPIN Commentary No. 9, 7 February 2012

Král, David (2012) Why the Czechs did not sign up to the fiscal treaty. EPIN Commentary No. 9, 7 February 2012. [Policy Paper]

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Abstract

The recent EU summit, which endorsed the treaty on stability, co-ordination and governance in the economic and monetary union, also produced one rather unexpected twist: the Prime Minister of the Czech Republic, Petr Nečas, refused to sign up to the treaty. This has left the country – at least for the time being – outside the fiscal compact, along with the UK. But, argues the author David Král in this new EPIN Commentary, the Czech position is not based on substantive arguments, but rather is more likely motivated by ideological and political considerations. Regardless of the immediate consequences this will have, longer-term repercussions are likely both on the domestic scene as well as on the standing of the country within the Union.

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