There’s too much still to digest in the fall-out from yesterday’s summit for me to write a full blog entry on it all, but there is one technical point on which David Cameron is wrong. As if he didn’t already look petulant enough, Cameron stated that he would make sure the Euro+ group would not have access to EU institutions (see para 3 here).
Here’s Article 273 of the Treaty on the Functioning of the European Union [PDF of full treaty here]:
The Court of Justice shall have jurisdiction in any dispute between Member States which relates to the subject matter of the Treaties if the dispute is submitted to it under a special agreement between the parties.
The ‘special agreement’ would be part of the pact the 17 Eurozone members, plus 6 (+3) others would sign, and so the Court of Justice could intervene, making legally binding fiscal surveillance by the Court of Justice viable, whatever Cameron says.