Anger in City as no Britons given EU financial regulation posts
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| EU President Van Rompuy |
Daniel Martin
Daily Mail
Britain could be ordered to submit its Budget to the European Union for approval to help shore up the beleaguered euro, it emerged last night.
EU countries from outside the Eurozone – such as the UK – should submit their budgets to Eurocrats for approval, said European Council president Herman Van Rompuy.
He said non-euro members would not be subject to EU sanctions, but they should be subject to ‘surveillance’ – effectively having their budgets approved by the EU.
‘That is the main instrument of more economic co-ordination and more convergence inside the EU – all 27 of which share the single market, which we have to deepen,’ he said. ‘The Eurozone needs even more economic co-ordination.’
The move is sure to be resisted by the Coalition but will spark another row, just days after MPs voted on a Bill which aims to check the endless transfer of power from Westminster to Brussels.
Denmark and Sweden also remain outside the Eurozone but in the EU.
David Cameron yesterday defied the French and insisted there was ‘no chance’ of Britain joining the euro.
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