There was no agreement among EU leaders on how to punish countries that break the bloc's debt and deficit limits, Taoiseach Brian Cowen confirmed yesterday.
The quandary facing the 27-member union is how to make sure profligate states never again bring the single currency into disrepute as events in Greece, Ireland, Portugal and Spain continue to animate bond markets.
Before the summer, leaders signed up to allow their peers greater scrutiny of spending plans and a new timetable for submitting budget outlines to Brussels, but deep divisions remain over what kind of sanctions to apply to those countries that persistently flout the rules.
For more: EU can't agree on how to halt rule-breakers - European, Business - Independent.ie
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