Ireland faces fresh vote on EU Treaty

The spectre of yet another EU Treaty change and the possibility of another Irish referendum was on the cards last night in a move that would further delay any resolution of the country’s banking debt.

Germany, Sweden, and Poland believe the change is needed to set up the single bank supervisor for all EU banks — a key move in breaking the vicious circle between banks and state finances.

While Ireland spoke out against treaty change during a meeting of finance ministers in Brussels and is supported by most other members, it will take only one country to veto the European Central Bank becoming the supervisor.