- No euro area bond
- No increase in the EFSF
- Move to balanced budget requirements by this time next year
- Van Rompuy to oversee stability pact adherence
- Financial transaction tax to be proposed next month
Half a loaf, most would agree, but about in line with expectations. If balanced budgets can be pulled off across the euro zone in some reasonably timely fashion, it would certainly be a plus. That is a huge “if”, however.